BOSTON–Fantini & Gorga recently arranged the acquisition financing of $4,155,000 for three drug stores, The financing was placed on behalf of a long-standing client with a significant portfolio of other drugstores in the Northeast.
Casimir Groblewski, Senior Managing Director, and Lindsay Feig, Director, placed the mortgages in the transaction.
“We were pleased to assist our client in its acquisition of these properties” Mr. Groblewski stated. “Two regional banks saw the value in these stores, all of which were seasoned locations with strong sales, and understood our client’s “acquire and hold” strategy. The banks offered non-recourse, long term, fixed-rate financing at full leverage with excellent and timely executions.”
The acquired properties include: a CVS in Wilbraham, MA and Walgreens stores located in Warwick, RI and in Lynn, MA.