Fantini & Gorga Arranges $5M Loan for Hotel Property in New Bedford, Massachusetts
NEW BEDFORD, MASS. — Fantini & Gorga has arranged a $5 million loan for the acquisition and redevelopment of a property located at 222 Union St. in New Bedford. The undisclosed borrower is converting the property from office and retail space into a 46,600-square-foot boutique hotel. The new 68-room hotel will be a brand of Ascent Hotel Collection. Keith Wentzel and Despina Hixon of Fantini & Gorga arranged the financing through a New England regional bank.