Fantini & Gorga | Skillfully Linking Borrowers and Lenders
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Representative Transactions $16,600,000
FHA Insured Loan
Apartments

Fantini & Gorga has provided $16.60 million in permanent financing on Evergreen at Lost Mountain I & II, a combined 205-unit multifamily property in Dallas, GA. The property was constructed in 2000 and 2008, and offers residents a pool and playground, as well as an on-site clubhouse with conference room and fitness center.

The loan was placed with Fantini & Gorga's affiliated MAP Lender, Eastern Mortgage Capital, which obtained FHA mortgage insurance under the 223(f) program to deliver the 35-year fixed rate non-recourse financing. The FHA-insured financing provides a loan that amortizes fully over its 35- year term – so there's no interest rate risk, and no 'balloon risk,' ever. This is non-recourse and assumable, and has a prepayment structure that avoids Yield Maintenance or Defeasance. Additionally, the transaction accommodated the borrower's goals of joining the two phases into one Single Purpose Entity with one mortgage.

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155 Federal Street · Suite 1600
Boston, MA 02110

Phone: 617.951.2600
Fax: 617.951.9944
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