2005 Transactions
Tremont Funds $2,950,000
Bridge Loan for Massachusetts Inn
The
Boston office of Tremont Realty Capital provided $2,950,000
first mortgage acquisition financing for the Inn at Scituate
Harbor, a 29-room, 13,500 square foot hotel situated on
0.56 acres of land in Scituate, a mid-sized affluent South
Shore community located 26 miles south of Boston, Massachusetts.
The loan was funded through a Tremont sponsored loan program. The 12-month, non-recourse loan provided
for a 90% loan-to-cost. Richard Gallitto, Executive Director
of Tremont, was able to commit to funding the project within
an aggressive time frame to allow the buyer to honor their
purchase contract.
For additional information on this transaction,
please contact:
Richard Gallitto
Executive Director
Email: rgallitto@tremontcapital.com
Phone: 617.867.0700 x772
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