Tri Pack of Financing in Southeastern MA Retail Deals for Fantini & GorgaNovember 05, 2018
BOSTON–The placement of three separate loans totaling $7,950,000 for three retail properties all located in southeastern Massachusetts was lean on time and execution. “We were pleased to be able to represent our client on these assignments ... The timing was very tight, with closings needing to occur on three consecutive days,” stated Casimir Groblewski, Senior Managing Director of Fantini & Gorga. The transactions included an acquisition loan of $3,000,000 for a ground leased gas station in Plymouth, MA, an acquisition loan of $2,450,000 for a retail center in West Bridgewater, MA, and a $2,500,000 refinancing of a retail center in Seekonk, MA.
The Fantini & Gorga team was led by Groblewski along with Jon Garcia, Analyst, arranging the financing through a Massachusetts based financial institution. “The successful executions were a testament to the lending and due diligence teams,” added Groblewski.
At the time of acquisition, roughly 58,000 square feet were available for lease. The purchaser will utilize most of this space for one of its affiliated businesses. The third loan facility was secured by The Shoppes at Six, a 101,526 square foot community retail center located at 1275 Fall River Avenue in Seekonk, MA, featuring Dollar Tree, Outback Steakhouse, Sherwin Williams, a fitness center, and Fun City Trampoline Park.The Shoppes at Six, Seekonk MA