Boston, MA Fantini & Gorga arranged $5.5 million in permanent financing for the property located at 2 Park Plaza. Fantini & Gorga placed the financing on behalf of its long-standing client, a multi-generational real estate firm based in the city.
The Fantini & Gorga team was led by Casimir Groblewski, senior managing director, and Despina Hixon, director, who together arranged the financing with one of their correspondent life insurance companies, Lincoln Financial Group.
“We were pleased to deliver a competitive, non-recourse 20-year fixed rate financing for our client,” said Groblewski. “Our correspondent understood the irreplaceable location of the asset, historically high occupancy and the strong sponsorship.”
2 Park Plaza overlooks the Boston Common and is close to public transportation, hotels, restaurants, Emerson College and residential condominiums. The property, a seven-story plus basement building, features 40,000 s/f of retail and office space. 2 Park Plaza, which dates from the late 19th century, is noteworthy in terms of its location, visibility, and architecture. Part of its charm is evidenced by a lobby that features a circular staircase that winds its way around a circular elevator.
Fantini & Gorga is one of New England’s leading mortgage banking firms. Headquartered in Boston, Fantini & Gorga specializes in assisting its clients in arranging traditional debt, mezzanine, and equity financing for all commercial property types throughout the United States. Fantini & Gorga combines deep regional roots, broad experience, market knowledge, and national/international reach in access to capital.