Seekonk, MA Fantini & Gorga arranged $3.195 million in acquisition financing for The Shoppes at Six. Fantini & Gorga represented Massachusetts-based 1275 Fall River Avenue LLC in the transaction. Casimir Groblewski, senior managing director, placed the financing.
The Shoppes at Six is a three building retail complex with 101,526 s/f of rentable area. It is located on 16.6 acres of commercially zoned land on Rte. 6 across from Seekonk Square. The subject is anchored by national credits Outback Steakhouse, Sherwin Williams, and Dollar Tree, as well as a number of locally based tenants. Immediately upon taking title the buyer announced a 24,500 s/f lease to Aero Trampoline Park, a regional operator of indoor recreational facilities, which will open in late spring, 2017.
“Our client had specific requirements for this financing due to the nature of the acquisition,” said Groblewski. “The property was owned by a lender and there was a tight timeframe within which all due diligence and the closing had to occur. The lender we chose was a New England-based financial institution that offered a creative structure and terms reflecting the upside potential of the subject property.”