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Mon, Aug 10
A Compendium of Property & Capital News
Mon
Aug 10
A Compendium of Property & Capital News

Fantini & Gorga Arranges $1.8M for New Gloucester Condominiums

June 22, 2020
78 Thatcher Road, Gloucester MA

GLOUCESTER– Fantini & Gorga has placed $1,800,000 in financing of a new, luxury, single-floor living condominium complex featuring six units – many with ocean views, called Good Harbor Beach Condominiums.

Derek Coulombe, Senior Managing Director and Lindsay Feig, Director of Fantini & Gorga structured and placed the financing on behalf of the sponsor. “We are very pleased to be able to place this short term financing that features interest only payments, partial releases with loan pay down and a low market rate. The financing was placing with a local bank who understood the location, the market and the quality of the sponsors. The lender was able to close quickly and did not charging a premium for the short term nature of the loan, said Coulombe.”

Located at 78 Thatcher Road in Gloucester, the condos are located within walking distance to Good Harbor Beach and Long Beach. Units have 2 bedrooms and 2.5 bathrooms and feature a chef’s kitchen, a gas fireplace, high ceilings, wrap-around windows and a deck. Each unit includes an office, laundry room and an attached two car indoor garage with storage space. Community features include an elevator, a roof deck that provides views of the Atlantic Ocean and Good Harbor Beach and a common gym. Four of the condominiums have already sold and the other two are available for sale.

Lindsay Feig Derek Coulombe