Keith Braddish, managing director, along with vice president Jason Gaccione, both of CBRE's Capital Markets group in New York City have secured a $12.122 million loan on behalf of Danbrook Realty to facilitate the refinancing of Mallory Brook Plaza and Lincoln Plaza. The loan, financed by RBC Capital Markets, was structured with two years interest-only on a 6.87% fixed-rate ten year term with 30 year amortization.
The assets, which are considered neighborhood retail centers, total 187,416 s/f. Both establishments are in close driving proximity to major Connecticut cities - Mallory Brook Plaza, located in Barkhamsted, is approximately 20 miles away from Hartford and Lincoln Plaza, located in Meriden, is approximately 20 miles away from New Haven. The cumulative weighted average tenancy of the centers was 96.4% at closing and included such national tenants as Rent-a-Car, Sears, Radio Shack and Curves Fitness Center.