Two Retail Properties West of Boston Financed for $10.2M via F&GJuly 30, 2018 - By The Real Reporter
BOSTON- Fantini & Gorga arranged $10,200,000 million in permanent financing for two retail properties located at 46 Bedford Street in Lexington, MA, and 1019 Trapelo Road in Waltham, MA. The financing was placed on behalf of Fantini & Gorga’s long-standing local real estate investor and developer client.
The two retail properties both benefit from excellent visibility on corner lots and include a diverse tenant mixture with both national and local retailers. The Lexington retail property, built in 2010, features 6,698 square feet of retail space that is fully leased to tenants, including Qdoba and People’s United Bank. The Waltham retail property, built in 2013, features 9,442 square feet of retail space that is currently 92% leased. Tenants of this site include Starbucks and PhysiciansOne Urgent Care.
Cas Groblewski, Senior Managing Director, Despina Hixon, Senior Director, and Lindsay Feig, Analyst of Fantini & Gorga lead the financing. Groblewski elaborated on the success of the acquisition. “We were delighted to deliver attractive permanent financing from a regional financial institution who demonstrated a strong understanding of the market as well as the borrower’s asset management objectives,” extolled Groblewski. “The combination of an experienced real estate developer/operator, along with best in class retail assets in excellent locations, allowed us to be able to fix a long-term rate at term sheet execution,” continued Groblewski.Lindsay Feig Despina Hixon Cas Groblewski