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$8.5M Financing Secured For Pepperell Apartment Complex

Jan 23, 2013 | Reprints | Unlock Link | Print

Fantini & Gorga in Boston said it has arranged $8.52 million in permanent financing for Rolling Meadows Apartments, a 75-unit townhouse apartment property in Pepperell.

"We were delighted to be able to structure 35-year fixed-rate financing for this asset, locking in today’s incredibly low rate for the next generation," Tim O’Donnell, principal at Fantini & Gorga, said in a statement.

Fantini & Gorga placed the loan with its correspondent MAP Lender, Eastern Mortgage Capital, using FHA mortgage insurance under the 223(f) program, which provides 35-year fixed rate non-recourse financing.

Rolling Meadows Apartments, constructed by the current owner in 1985-1987, consists of 75 two-bedroom townhouse units in seven buildings.

Commercial & Industrial