Fantini & Gorga arranges $6.385 million in acquisition financing
Fantini & Gorga recently arranged $6.385 million in acquisition financing for two self storage properties in southeastern Mass. on behalf of its client, Storage Opportunities Partners LLC (StorageOp), which is a regional owner and operator of self storage facilities in the New England and southeastern Michigan markets. The real estate involved in this transaction is located in Falmouth and Fairhaven.
The Falmouth property consists of five buildings on 4.88 acres, with 79,495 s/f of rentable area and 749 units. Originally developed in 1997 and expanded in 2001, the subject is located on heavily trafficked Teaticket Hwy., also known as Rte. 28.
The Fairhaven property is located on Lambeth Park Rd. with visibility from Rte. 240, a major connecting route to Rte. I-195. The facility contains 41,583 rentable s/f in six buildings with 337 units on 4.06 acres. There are also 24 outside storage spaces and a separate leasing office building.
StorageOp now owns 13 facilities. Operating as Storage Pros Self Storage, the buyer focuses on properties that are located within select target markets.
Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary