Tiverton, RI EagleBridge Capital has arranged permanent mortgage financing in the amount of $6.44 million for CVS Plaza.
The mortgage financing was arranged by EagleBridge principals Ted Sidel and Brian Sheehan who said that the loan was provided by a leading CMBS lender. The law firm of DarrowEverett, represented the borrower in closing the loan. CVS Plaza is located at 500 Main Rd. (Rte. 138). The property is anchored by a free-standing 13,500 s/f CVS pharmacy. Other plaza tenants include The Saconnet River Grille and an Allstate insurance agency located in an adjacent building.
Sidel and Sheehan said “We are pleased that EagleBridge was able to meet the borrower’s requirements and arrange a very competitive long term fixed-rate financing on a non-recourse basis featuring a most attractive rate, term, and amortization.”
CVS operates over 9,700 retail pharmacies across the country with over 65 located in Rhode Island and is part of CVS Health Corp.
EagleBridge Capital is a Boston-based mortgage banking firm specializing in arranging debt and equity financing as well as joint ventures for shopping centers, apartments, office, industrial, and r & d buildings, hotels, condominiums, and mixed use properties as well as special purpose buildings.