Fantini & Gorga has recently arranged a $1.3 million financing package for the refinancing of 520 Main St., a mixed use property. Casimir Groblewski, senior managing director, arranged this financing with a Massachusetts-based cooperative bank. The borrower is The Battaglino Family Limited Partnership, a locally based investment and development company.
520 Main St. consists of a single building with 5,000 s/f of office space on three levels and 20 residential rental units. The borrower has owned the subject for many years. In addition to the fully renovated office suites that cater to local professionals, the subject's rental units offer value and location to the tenants. Thanks to the building's design the residences and the offices are each separate components. The project is located on SR 20 only .35 miles east of the center of Waltham. The property is on a T bus line and all services are close by.
Groblewski said, "We were pleased to have the opportunity to assist our client with this financing. We had originally arranged a previous loan for this property about 20 years ago. This was a competitive offering because of the successful, long term management and the location. The lender offered a loan package with a structure reflecting the competitive capital markets and the quality of the ownership."
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, construction, mezzanine, and equity financing as well as complex capital structures for all commercial and multifamily property types throughout the United States. Fantini & Gorga combines deep regional roots, broad experience, market knowledge, and national/international reach in access to capital.