$38,000,000 | Permanent Loan | Apartments

Fantini & Gorga placed $38,000,000 in permanent financing on a 324-unit multifamily community situated on a pastoral 30-acre campus located in the sea-side town of Groton, CT. The property boasts a fitness center, clubhouse, spa and indoor swimming pool among other luxurious community and apartment amenities. The non-recourse loan had no carve-outs is assumable and has a prepayment structure that avoids yield maintenance or defeasance. It was placed with Fantini & Gorga’s correspondent lender, Eastern Mortgage Capital.