Log in Subscribe Front Page Current Issue Real Briefs Recent Trades Subscribe/Renew Events Advertise Contact Us
Sun, Nov 27
A Compendium of Property & Capital News
Nov 27

Fantini & Gorga Places $7.8M on 75-Unit Townhouse-Style Pepperell Apartments

November 19, 2021
Rolling Meadows Apartments, Pepperell MA

BOSTON — Fantini & Gorga recently placed $7,779,600 in permanent financing for Rolling Meadows Apartments, a 75-unit townhouse apartment property in Pepperell, MA. “The transaction allowed our clients to fund desired upgrades and long-term reserves, as well as locking in a historically low-interest rate for the next 35- years,” commented Tim O’Donnell, Principal of Fantini & Gorga. “The loan ensures the long-term stability of the project for the next generation of owners.”

Rolling Meadows Apartments, constructed by the current owner in 1985-1987, consists of 75 spacious two-bedroom townhouse units in seven buildings. Common amenities include a basketball court and a tot lot.

The financing was placed with Fantini & Gorga’s correspondent, Eastern Mortgage Capital, a MAP Lender, which used FHA mortgage insurance under the 223(a)7 program to fund the 35-year fixed-rate non-recourse financing.