BOSTON – Fantini & Gorga announced the placement of three separate loans totaling $7,950,000 for three retail properties located in southeastern Massachusetts.
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 Casimir Groblewski, Senior Managing Director, who together with Jon Garcia, Analyst, arranged the financing through a Massachusetts based financial institution.
“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 Groblewski. “The successful executions were a testament to the lending and due diligence teams.
The subject properties included a ground leased gas station located at 7 Home Depot Drive in Plymouth, MA featuring a Shell Station, a car wash, and a convenience store. The second acquisition loan was collateralized with a first mortgage on a 133,039 square foot neighborhood shopping center located at 2077 North Main Street in West Bridgewater, MA anchored by Dollar Tree and Bank of America. . 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.