Fantini & Gorga Arranges $16M Loan for Multifamily Property in Rhode Island
COVENTRY, R.I. — Fantini & Gorga has arranged $16 million in permanent financing for a recently renovated multifamily property in Coventry. The 15-year loan provided by regional financial institutions features a 3.75 percent fixed rate. Originally constructed from the 1850s to 1900, the property includes 140 apartment units, a fitness center, community room, game room, indoor basketball court, movie theater and outdoor courtyard with grill area. Mark Whelan of Fantini & Gorga secured the financing on behalf of the borrower, a long-term client of the firm.