MIDDLETOWN, R.I. — Fantini & Gorga has arranged for a $7.2 million first mortgage for the East Bay Village Apartments, a 240-unit complex located in Middletown. The apartment community is located at 969 W. Main Road (Route 114), approximately 2 miles north of Downtown Newport. The property includes a total of 10 three-story buildings with 240 studio, one- and two-bedroom units. The units include all electric kitchens, intercom entry systems, walk-in closets, air conditioning, ceiling fans, breakfast bars, garbage disposals and cable TV/high-speed Internet hook-ups. Some complex amenities include on-site management, a pool, laundry facilities in each building, free storage areas, a tennis court, a volleyball court and extensively landscaped grounds. The borrower, Middletown Associates, is owned and managed by affiliates of Picerne Investment Corporation.