Union, ME Boston-based Fantini & Gorga arranged $2.62 million in financing for two newly constructed, free-standing Dollar General stores in Union and Livermore. The properties are leased on an initial long-term triple net basis to Dollar General carrying a corporate guarantee.
Both stores were constructed in 2017 and received their certificate of occupancies to conduct business in October and November of this year. The stores were ideal locations for Dollar General to continue their expansion nationally and in the northeast.
Keith Wentzel, managing director, Chris Miller, senior director, and Jon Garcia, analyst, represented their New England based client and arranged the financing with a regional financial institution.
“We were pleased to assist our client to arrange competitive terms that fit in line with his 1031 exchange needs,” said Wentzel. “We were able to deliver a highly leveraged, non-recourse, cost effective loan facility with a favorable rate on a thirty year amortization schedule.”