Groblewski and Feig of Fantini & Gorga arrange $4.672 million financing
for the acquisition of the real estate related to the Days Inn & Suites

October 12, 2018 - Financial Digest

Mystic, CT Fantini & Gorga arranged a $4.672 million first mortgage loan for the acquisition of the real estate related to the Days Inn & Suites. Fantini & Gorga placed the financing on behalf of a long-standing client as part of a 1031 exchange.

Casimir Groblewski, senior managing director, and Lindsay Feig, analyst, represented their client in the transaction. 

Casimir Groblewski, Fantini & Gorga

 

Lindsay Feig, Fantini & Gorga

 

“We were pleased to assist the buyer with its specific requirements for the financing,” said Groblewski. “There was a tight timeframe within which all due diligence and the closing had to occur. The transaction was complex since the hospitality operating company was also revamping its management. The lender a major New England-based financial institution with an excellent track record, offered our client the creative structure that was needed.”

The subject consists of 120 key, two story motel with 51,732 s/f of space on a 4.92 acre lot. The site is improved by an outdoor pool and patio. The Day’s Inn has frontage on Whitehall Ave., which is a major thoroughfare intersecting with I-95. The Mystic Aquarium, with over 700,000 annual visitors, as well as the Mystic Seaport Museum, are in close proximity to the subject.

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