Dealmaker: Fantini & Gorga Arranges $17M in New Hampshire, New York

Fantini & Gorga, Boston, secured $17.3 million for multifamily, mixed-use and retail assets in New Hampshire and New York.

In Dover, N.H., the firm placed two loan loans totaling $10.8 million on an apartment property with retail space and a mixed-use retail, office and apartment property. Senior Managing Director Derek Coulombe and Director Lindsay Feig structured and placed the financing.

Built in 2015, apartment community Riparia at One Hundred First Street is located in downtown Dover on the Cocheco River. The property has 32 market-rate rental units and 9,000 square feet of commercial space on the first floor currently occupied by three tenants.

Located on Second, Central Avenue and Third Street, mixed-use asset The Morrill Block dates to the late 1800s. It currently houses 24 commercial units and 21 residential units. A large regional bank supplied the financing.

Fantini & Gorga also secured $6.5 million to refinance a triple-net leased McDonald’s restaurant’s ground lease in Brooklyn, N.Y. Senior Managing Director Casimir Groblewski and Analyst Ryan Maddaluna placed the financing.

The subject property occupies the corner of Broadway and Monroe Street adjacent to the Gates Avenue MTA station. The property’s proximity to the subway station, a local high school and a large population, along with the hard corner location and drive-through window produce a high volume of foot and vehicular traffic.

“Our client had very specific requirements for the debt, and we were able to secure a low rate for long-term financing,” Groblewski said. “The lender, a national financial services firm based in the far west, offered a structure with an interest-only period so as to provide our client with upfront, increased cash flow.”