NEEDHAM, MA – Fantini & Gorga recently arranged a $3,477,500 first mortgage 430 Paradise Road, a 8,450 square foot neighborhood strip center, in Swampscott, MA.
Senior Managing Director Casimir Groblewski and Analyst Colin Monahan arranged the financing for a long-standing client, a Boston based real estate investor.
The property benefits from excellent visibility and its location in Vinnin Square, Swampscott’s main retail corridor at the intersection of State Route 1A and Route 129. The immediate area is home to many national and regional retailers, including Marshalls, Stop & Shop, Whole Foods, and others. Built in 1992, the single story, multitenant commercial strip has had excellent occupancy history and is currently fully leased to four tenants.
According to Mr. Groblewski, the lender was a major financial institution based in Greater Boston. “Our client had specific requirements, and we were able to negotiate a very favorable and flexible financing package with this lender,” stated Mr. Monahan.