Fantini & Gorga Arranges $3.5M for Cape Cod PlazaMarch 05, 2018 - By The Real Reporter
BOSTON—Fantini & Gorga recently arranged $3.5M in first mortgage financing for Harney’s Plaza in South Dennis, MA. The 38,500-sf retail plaza is located by the only four leaf clover traffic interchange on the Cape near the intersection of Routes 134 and 6.
Derek Coulombe, Senior Managing Director, Despina Hixon, Senior Director, and Lindsay Feig, Analyst, led the Fantini & Gorga team to arrange the refinancing on behalf of the borrower. “The borrower was looking for financing to match his long-term hold perspective. Due to the high quality of this asset as well as the property’s excellent location and occupancy history we were able to secure long-term, non-recourse, fixed-rate financing with one of our correspondent life companies,” lauds Coulombe.
Harney’s Plaza is fully occupied and has a diverse tenant roster that is anchored by Ring Bros Marketplace, a regional natural food grocer. It also houses Dunkin Donuts, ProCuts, and D’Angelos. In addition to these retail tenants, the property has second level office space that is leased to a mix of tenants including an insurance company and travel agency, along with ample parking. Harney’s Plaza benefits from excellent signage along Route 134, which leads to strong foot traffic for the plaza. The mall’s strategic location and strong tenant line-up ultimately led to a successful financing arrangement that benefitted both sides.Lindsay Feig Despina Hixon Derek Coulombe