$30,600,000 | Acquisition Loan | Apartments

Fantini & Gorga arranged $30,600,000 in acquisition financing for the Boston-based affiliate of a leading multifamily investment and management firm. The client recently purchased a 114 unit residential community in Wakefield, MA. Constructed in 2011-2012 as a 40B development, the property represents a value-add opportunity for the new owner. The development consists of 2 residential buildings and a clubhouse on a 4.17-acre parcel and benefits from its location just off North Main Street, also known as SR 28, and is only one-half mile from the Route I-95 interchange. Financing was arranged with a major Massachusetts based lending institution.