O’Donnell and Cunnane of Fantini & Gorga arrange $11.22m financing
Clocktower Place I - Nashua, NHNashua, NH Fantini & Gorga has arranged $11.22 million in permanent financing for Clocktower Place I, a 143 unit converted mill multifamily property located in downtown. The financing was placed through a national Fannie Mae lender.
“We were pleased to have secured this extremely attractive loan package for our longstanding client,” said Tim O’Donnell, principal at Fantini & Gorga, who along with Jason Cunnane, senior analyst, arranged the financing. “We were able to deliver an incredibly low fixed rate and the best overall terms consistent with our client’s long-term objectives.”
Clocktower Place I is a five-story rehabilitated mill building that is contiguous with Clocktower Place II. The two phases function as a single rental property made up of one long, continuous structure that was built and added to during the course of the 19th century and converted to its current use in the late 1980s. The distinctive brick structure with its tower is listed on the National Register of Historic Places and is situated along the Nashua River near the center of town. Clocktower Place I consists of 114 market rate and 29 affordable one, two, and three bedroom apartments. The property has large units with oversized windows, a fitness center, indoor pool and common room as well as ample parking.
Fantini & Gorga 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.