Fantini & Gorga recently arranged a first mortgage refinancing facility in the amount of $4.25 million, secured by an existing Walgreens Pharmacy. The refinancing replaced a maturing conduit loan. The borrower is Carl II LLC, a developer and investor which purchased the subject in 2001.
Casimir Groblewski, managing director at Fantini & Gorga, represented the client and arranged the financing.
"We were pleased to assist our client with this refinancing. This Walgreens is located on a highly visible parcel at the intersection of state Rtes. 139 and 37. The lender was a regional banking institution based in Greater Boston. Because of the maturity date of the conduit loan the lender had to move very quickly, and through the efforts of both our client and the lender and their counsels the transaction closed in a timely manner and on favorable terms," said Groblewski.
Fantini & Gorga (www.fantinigorga.com) 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. Fantini & Gorga has arranged more than $300,000,000 in drug store financings across the country in the past 5 years.
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