Eastern Bank will sell its majority ownership stake in Fantini & Gorga to the commercial real estate advisory firm’s executive leadership team, the bank announced today.

The transaction also includes the bank’s Eastern Mortgage Capital business line, which uses Federal Housing Administration mortgage insurance to provide loans for apartments, senior housing and skilled nursing facilities nationwide.

"This agreement reflects the strategic goals of both organizations and it will help each achieve those goals," said Richard E. Holbrook, Eastern’s chairman and CEO. "In recent years, the bank has become increasingly focused on developing relationships with people and businesses in eastern Massachusetts, while Fantini & Gorga’s serves a much broader geography with specific real estate financing services."

Eastern purchased a majority stake in Fantini & Gorga in 2001. The leadership, which consists of George J. Fantini Jr., its chairman and principal; John R. Gorga, its president and principal; and Tim O’Donnell, principal, owned a minority stake in the business during its ownership by Eastern. Fantini, Gorga and O’Donnell also launched, and now manage, the Eastern Mortgage Capital business line.

"Operating under Eastern’s umbrella has provided us a strong platform for success for nearly 10 years," Fantini said. "Our decision to move ahead as an independent company was made amicably and with great mutual respect."

Terms of the deal were not disclosed. The transaction is expected to close by April 30.