BOSTON – Fantini & Gorga announced the placement of a $27 million construction loan in Cambridge, MA.
The Fantini & Gorga team was led by Derek Coulombe, Senior Managing Director, who together with Tim O'Donnell, Executive Managing Director and Despina Hixon, Senior Director, arranged the financing.
"We were very happy to be able to arrange this construction loan for our client to be able deliver them attractive financing that will allow them to continue the construction of Park 77 Apartments" stated Coulombe. "This property is a logical, accretive second phase to the nearby Park 87 Apartments and we are pleased for our client to be able to see their vision through".
The subject property will be a 93-unit apartment building located in the rapidly expanding Alewife / Fresh Pond neighborhood walking distance from the MBTA's Alewife station.
When complete the property will include class A finishes throughout the living and common areas. The neighborhood offers desirable shopping and restaurants within walking distance while being located close to route 2 for easy vehicle access out to major highways.