Warwick, RI Fantini & Gorga arranged the acquisition financing totaling $4.155 million for three drug store properties. The financing was placed on behalf of a long-standing client with a significant portfolio of other drugstores in the Northeast.
Casimir Groblewski, senior managing director, and Lindsay Feig, director, placed the mortgages in the transaction.
“We were pleased to assist our client in its acquisition of these properties” Groblewski said. “Two regional banks saw the value in these stores, all of which were seasoned locations with strong sales, and understood our client’s ‘acquire and hold’ strategy. The banks offered non-recourse, long term, fixed-rate financing at full leverage with excellent and timely executions.”
The acquired properties include Walgreens stores located in Warwick, RI and in Lynn, MA and a CVS in Wilbraham, MA.