Wentzel of Fantini & Gorga arranges $2.84 million financing

Fantini & Gorga has arranged a $2.84 million first mortgage financing for a mixed use building consisting of 15 apartment units and 4 street level retail units. The fully leased property, located at 88 Broadway, was acquired by a Boston area investor for $3.5 million. Keith Wentzel, managing director, placed the financing with a Boston area community bank. "The lender provided a very attractive low rate financing structure with a 30 year amortization that enabled our client to acquire the property with just over 20% cash equity. Since the property was fully occupied and located in an established neighborhood with little vacancy, the loan attracted a lot of interest from local lenders," said Wentzel. 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.