Boston mortgage banking firm Fantini & Gorga has arranged $3 million in permanent financing for 881-885 Massachusetts Ave. in Cambridge, which has been owned by Abraham and Michael B. Moskow since 1971, according to data from Banker & Tradesman’s parent company, The Warren Group.

The Cambridge rental market continues to be extremely strong, with overall occupancies above 95 percent, according to Fantini & Gorga. The property consists of two adjoining, seven-story brick buildings at the corner of Lee Street. Each building contains 28 apartments, which are primarily two bedrooms. Half the building has undergone a complete renovation, and the other side will be improved shortly, Fantini & Gorga said.

"The lender, a major Massachusetts-based financial institution, offered our client a very aggressive rate with a period of interest only and limited recourse, recognizing the quality of the renovations and strength of the sponsorship," said F&G Managing Director Casimir Groblewski. "It is heartening to find that despite conditions in the capital markets, there are lenders willing to respond quickly and to compete on financing opportunities, even those with complicated renovations planned or underway."

According to data from The Warren Group, the lender was Brookline Bank.