Dealmaker: Fantini & Gorga Arranges $34M in Construction Financing, Equity

Fantini & Gorga, Boston, arranged $33.5 million in construction financing and equity for One Wall Street Residences, a planned 136-unit transit-oriented development in Attleboro, Mass.

F&G Senior Managing Director Casimir Groblewski and Director Lindsay Feig introduced their clients, Crugnale Properties, Mansfield, Mass., and Arista Development, Norwood, Mass., to Campanelli, Braintree, Mass. The three firms created joint venture Attleboro Wall Street Apartments LLC.

Groblewski and Feig also arranged a $22.5 million construction loan for the project from Cambridge Savings Bank, Cambridge, Mass.

Construction recently commenced and completion is expected in the spring of 2021.

When completed, One Wall Street will total five levels with 2,600 square feet of commercial space on the ground floor. The 1.5-acre site is in downtown Attleboro across from the city’s Intermodal Transportation Center and Renaissance Station. The commuter rail line offers service to Providence, R.I. and Boston and Interstate 95 is less than two miles away.

“The redevelopment of a previously underutilized site in downtown Attleboro by top-quality sponsorship represents the next step forward in Attleboro’s revitalization,” said Groblewski. “Transit-oriented developments are a vital factor for the future growth of Boston and its surrounding communities.” Groblewski said Cambridge Savings Bank offered a competitive non-recourse loan structure with a provision for an earn out of additional proceeds upon stabilization. The choice of a floating or fixed rate also appealed to the development team as a risk-management tool, he noted.