40,000 sq. foot retail and office bldg.
Gomberg Financial Services of Marblehead, MA is pleased to announce that we have arranged purchase financing for a 40,000 square-foot office and retail building located at 100 Concord St. in downtown Framingham, MA. The purchase price was $1,500,000.
GFS satisfied the borrowers demand to highly leverage the purchase by cross-collaterizing the loan with additional collateral, an 18-unit apartment building in Worcester, MA.
The borrower had to inject less than $250,000 in equity, including closing costs. The loan amount was $1,575,000. The loan term was 10-years and the interest rate was fixed for 5-years with a rate below 8% on a 20-year amortization schedule.
100 Concord St., Framingham, MA