BOSTON– Fantini & Gorga announced the placement of a $21 million first mortgage to refinance 160,000 square feet of office condominium space at The Summit, Jefferson Gateway, and Metro East Office Parks in Warwick, RI.
“We were delighted to deliver attractive permanent financing from a regional financial institution who demonstrated a strong understanding of the market as well as the borrower’s asset management objectives,” stated Jason Cunnane, Senior Director at Fantini & Gorga, who together with Tim O’Donnell, Principal, arranged the financing. “The combination of an experienced real estate developer/operator, best in class stabilized office assets, excellent locations and a knowledgeable lender resulted in a smooth execution.”
The three office parks are located within a mile of each other on 300 Centerville Road, 931 & 935 Jefferson Blvd., and 117 Metro Center Blvd. Each office park is very well situated just off Interstate 95 in close proximity to TF Green International Airport.
The Summit, Jefferson Gateway and Metro East are fully occupied, Class A three or four-story buildings featuring ample parking, beautifully landscaped grounds and efficient floor plans that provide flexibility for the national, regional and local professional office users.