Fantini & Gorga arranges $11.5 million refinancing for 57,939 s/f retail center

Boston-based Fantini & Gorga recently arranged $11.5 million in first mortgage financing for a 57,939 s/f, retail center shadow anchored by Home Depot and located at 19-45 Home Depot Dr., off Rte. 3 at Exit 5. The retail property is 100% occupied and is anchored by a stand-alone Ethan Allen store, West Marine, Town Fair Tire and The 99 Restaurant. The complex was developed in 2003. The Fantini & Gorga team was led by Casimir Groblewski, managing director, and Jason Cunnane, analyst, who together arranged the refinancing on behalf of Sharon-based Viking Acquisitions, LLC. The loan was placed with a major Massachusetts-based financial institution. "This assignment generated a great deal of interest from a wide variety of lenders, all of whom recognized the high quality of this asset as well as the property's excellent occupancy history, sponsorship and management. The result was a very attractive 7-year fixed rate, non-recourse loan," said Groblewski.