Boston-based mortgage banking firm Fantini & Gorga has arranged $10.4 million in permanent financing for The Berkeley, at 420 Boylston St. in Boston – a Class A, Back Bay mid-rise office building with street level retail.

The borrower, an affiliate of A.W. Perry Inc., has had a controlling interest in the property since the 1930s, and acquired full ownership in the 1950s, according to a statement. In the late 1980s, Perry undertook a full gut-rehab, which included the addition of a six-story core atrium, restoration of the grand facade and the replication of the original balustrade crown and bronze doors.

Built in 1906, the 97,000-square-foot building was rated "of major significance" when receiving Landmark designation by the Boston Landmarks Commission, and is known as the "Crowned Jewel of Back Bay," Fantini & Gorga said.

"The high quality of the asset and careful management style of our client made this transaction extremely attractive to an institutional lender," said Wayne Clough, managing director of Fantini & Gorga, who placed the loan with the assistance of Director Mark Whelan. "We were very pleased to deliver such attractive loan terms for our long-standing client." 

The loan was placed with Lincoln Financial Group, with whom Fantini & Gorga has a correspondent relationship.  Fantini & Gorga said it will service the loan in-house.