August 30, 2019
Fantini & Gorga secured a $20.5 million construction loan for 300 North Main, a new multifamily development in Mansfield. Located approximately 25 miles south of Boston, the property will include one and two-bedroom apartments, as well as 11,674 square feet of retail space.
Massachusetts-based developers, Arista Development LLC and Crugnale Properties LLC, are developing the project, which will also include 15 affordable units. The architect on the project is Massachusetts-based Annino Inc. Construction is expected to be completed in mid-2020.
Fantini & Gorga secured the financing on behalf of the borrowers, Arista and Crugnale. Two Massachusetts-based financial institutions provided $19 million, and a group of private investors provided an additional $1.5 million.