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Fantini & Gorga Arranges $5M Loan for Hotel Property in New Bedford, Massachusetts

222-Union-St-New-Bedford-MA

The property located at 222 Union St. in New Bedford, Mass., is being converted into a 68-room boutique hotel.

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.

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