Cushman & Wakefield Sonnenblick Goldman has arranged acquisition financing on behalf of Rubicon Investments, LLC, for the purchase of 198 and 200 Main St. Merrill Lynch provided the senior loan and RCG Longview provided mezzanine financing.
The State of Maine Department of Health and Human services fully occupies the four-story 200 Main St., which totals 50,823 s/f, until 2020. Tenants at 198 Main St. include Maine Cardiology Associates, DLL Associates, Bangor Savings Bank and WGME. The 100% leased buildings were recently renovated and expanded by the previous owners.
"This financing closed at a time when many CMBS deals were falling apart, and it was only through an incredibly cooperative effort that the financing was closed on time and as represented," said Dave Karson, director at Cushman & Wakefield Sonnenblick Goldman. "Merrill Lynch, RCG Longview and the borrower all navigated a tumultuous market and look forward to doing many more deals together"
The buildings are located within Lewiston's central business district, near Rte. 196 and less than three miles from I-95.
About Cushman & Wakefield Sonnenblick Goldman
The formation of Cushman & Wakefield Sonnenblick Goldman establishes the industry's premier independent real estate investment banking firm. The firm was founded in 1893 to serve the financing needs of the real estate industry, and today provides a full range of financial services, including debt and equity placements, joint ventures, investment sales and advisory services on a global basis. Further information can be found at the firm's website at www.sonngold.com.