BOSTON–EagleBridge Capital has arranged permanent mortgage financing in the amount of $6,440,000 for CVS Plaza located in Tiverton, Rhode Island.
The mortgage financing was arranged by EagleBridge principals Ted M. Sidel and Brian D. Sheehan who stated that the loan was provided by a leading CMBS lender. The law firm of DarrowEverett, represented the borrower in closing the loan.
CVS Plaza is located at 500 Main Road (Route 138). The property is anchored by a free-standing 13,500 sf CVS pharmacy . Other Plaza tenants include The Saconnet River Grille and an Allstate insurance agency located in an adjacent building.
Mr. Sidel and Mr. Sheehan stated, “We are pleased that EagleBridge was able to meet the borrower’s requirements and arrange a very competitive long term fixed-rate financing on a non-recourse basis featuring a most attractive rate, term, and amortization.
CVS operates over 9700 retail pharmacies across the country with over 65 located in Rhode Island and is part of CVS Health Corporation.