South Dennis, MA Boston-based Fantini & Gorga arranged $3.5 million in first mortgage financing for Harney’s Plaza, which is a 38,500 s/f retail plaza located on Rte. 134.
The Fantini & Gorga team was led by Derek Coulombe, senior managing director, Despina Hixon, senior director, and Lindsay Feig, analyst, who together arranged the refinancing on behalf of the borrower.
“The borrower was looking for financing to match his long term hold perspective. Due to the high quality of this asset as well as the property’s excellent location and occupancy history we were able to secure long term, non-recourse, fixed rate financing with one of our correspondent life companies,” said Coulombe.
Harney’s Plaza is 100% occupied and has a diverse tenant roster that is anchored by Ring Bros Marketplace (a regional natural food grocer); it also includes Dunkin’ Donuts, ProCuts and D’Angelos. The property also has second level office space that is leased to a mix of tenants including an insurance company and travel agency. The subject also includes ample parking in excess of 260 surface spaces.