Fantini & Gorga has arranged a $1.8 million in permanent financing of an 18-unit apartment building located at 33 Walbridge St. in the Allston neighborhood of the city.
"We are very pleased that we were able to deliver to our client a mortgage that was the perfect mix of rate and term and allows them to meet their goals" said Tim O'Donnell, principal and managing director of Fantini & Gorga, who placed the financing along with Derek Coulombe, managing director. "There was significant lender interest in this loan opportunity from both bank and agency lenders, and that gave our borrower the ability to obtain 'best in class' pricing and terms."
33 Walbridge St. is a three story plus basement wood framed building with a brick exterior. The property is similar in style and consistent to neighboring properties in what is a very strong rental market. The property is managed by the long-term owner, and provides indoor bike storage, laundry facilities and extra tenant storage.
The lender was a regional commercial bank that provided a seven year fixed rate loan at very competitive rates.
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.