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Malden Multifamily Project Gets Redevelopment Loan

Jul 28, 2016 | Reprints | Unlock Link

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Redevelopment of a historic building in Malden Center into 71 apartments and retail space will be funded by an $18 million construction loan.

Boston-based Fantini & Gorga arranged the financing for the Residences @ Malden Station 138 at 126-150 Pleasant St. The project involves construction of an addition to the rear of the former Masonic Building that will house 40 of the 72 residential units. Amenities will include a fitness center, roof deck, meeting rooms and a café station.

John Gorga, Despina Hatzipetrou and Derek Coulombe arranged the financing with a regional bank on behalf of client 126-150 Pleasant Street Assoc. LLC.

“The combination of the transit-oriented nature of this development, as well as the strength of the sponsor and excellent location, attracted a wide range of lenders,” Coulombe said in a statement.

B&T Daily