The Boston office of Fantini & Gorga recently assisted Eastern Bank in arranging $6 million in acquisition financing for two self-storage facilities in Connecticut, on behalf of Tarco Properties.

The properties are located in Wallingford and Waterbury in central Connecticut. Both communities are part of the New Haven SMSA.

The Wallingford facility contains 54,075 rentable square feet and 490 units in two buildings. There are also several outdoor parking spaces. The Waterbury property, developed on 4.97 acres, has 54,875 square feet and 546 rental units, also includes two buildings. Both facilities have climate controlled and regular units. Tarco plans to convert the facilities from the Lock Tight brand to its flag, Value Store-It.

"It was particularly gratifying to work with Eastern Bank, which was very responsive and creative despite the turmoil in the capital markets," said F&G Managing Director Casimir Groblewski. "The loans included an early rate lock. The bank recognized the borrower’s experience in owning and managing self-storage facilities in multiple markets and through the specific vagaries presented by this economic cycle. All parties diligently worked to close these loans on time."