News: Retail
Posted: January 23, 2014
Fantini & Gorga arranges $2.955 million for 35,500 s/f shopping center
Fantini & Gorga arranged $2.955 million in long-term financing for 35,500 s/f drugstore-anchored shopping center.
"We were delighted to be able to bring in a lender that provided an attractive rate for a long-term," said Mark Whelan, managing director, who worked to place the loan with John Gorga, chairman and principal of Fantini & Gorga. Gorga said, "Our lender, a Massachusetts-based financial institution, gained a quick knowledge of the strong demographics and market and was able to underwrite accordingly."
The property, a legacy asset for the client, was 90% leased to eight tenants at the time of closing.
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