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Fall River Apartment Complex Gets $1.7M In Refinancing

Mar 22, 2011 | Reprints | Unlock Link | Print

A 39-unit apartment complex in downtown Fall River with street-level retail space has received $1.7 million in Federal Housing Administration (FHA)-insured refinancing.

Tim O’Donnell, principal and managing director at Boston-based Fantini & Gorga, arranged the loan with Eastern Mortgage Capital, according to a statement. O’Donnell was assisted in the transaction by Mark Whelan, director.

"We are extremely pleased to have been able to improve the bottom line of our client through the reduction of debt service payments, as well as provide for capital needs in the future," said O’Donnell. "FHA-sponsored mortgage insurance programs have experienced added interest in what is still a credit constrained environment."

Residential Real Estate