Boston-based Fantini & Gorga has arranged a $5 million line-of-credit facility on a 100,000-square-foot Class A office building in Waltham.
Terms of the credit facility include a 5-year term, and an option to fix the proceeds at an attractive rate. The property at 271 Waverley Oaks Road is located in an eight-building park, which encompasses more than 1 million square feet of space. It is more than 95 percent occupied. Originally a build-to-suit property, the property is equipped with state-of-the-art systems and redundant power, according to a statement.
Wayne Clough, managing director, and Mark Whelan, director, introduced the borrowers to the lender, an unnamed, regional banking institution.
"The borrowers were clear in providing direction and we were able to match up their wants and needs with a bank that was very accommodating," said Clough. "This transaction gives our client the ability to quickly pursue future transactions."