EagleBridge Capital has arranged $2.84 million in mortgage acquisition/permanent financing for Clearview Apartments, working exclusively on behalf of the borrower, TAG Fall River.
The financing was arranged by EagleBridge principals Brian Sheehan and Ted Sidel who stated the mortgage was provided through the Fannie Mae DUS program. Sheehan and Sidel said, "The Fannie Mae program worked very smoothly. The borrower was able to lock in a long term non-recourse mortgage amortized over 30 years on very favorable terms."
Clearview Apartments is a 49 unit apartment complex located at 4000 N. Main St. consisting of 42 two-bedroom units and 7 one-bedroom units situated in two buildings. The complex overlooks the Taunton River and is near the Fall River Country Club. Clearview is located off exit 8 of Rte. 24 and is within walking distance of the 97,000 s/f Riverview Marketplace shopping center anchored by Shaw's Supermarket and CVS.
The borrower was represented by the law firm of DarrowEverett. NAI Hunneman represented the seller and secured the buyer.
EagleBridge Capital is a Boston-based mortgage banking firm specializing in arranging debt and equity financing as well as joint ventures for apartment, office, industrial, r & d buildings, hotels, condominium buildings and mixed use properties as well as special purpose buildings.