Ashworth Mortgage Corp. has recently placed permanent fixed rate financing with a CMBS lender in the amount of $3 million for various lease and ground lease buyouts for a parcel on which is to be built a Bank of America banking office.
The parcel is located on the eastbound side of Rte. 1 and formerly housed a Bickford's. The bank will be fully responsible for the plans and construction of the building.
When asked to comment, Fish who secured, placed, negotiated and closed the loan, said, "This was a relatively simple loan to understand but placed during very complicated lending times. We were pleased that despite market turbulence, our lender was committed to the transaction and worked diligently to the funding."