The Boston office of Holliday Fenoglio Fowler, LP (HFF) has arranged a $5.45 million refinancing for Town Green at Wilton Center, a 34,730 s/f specialty shopping center.
HFF senior managing director Fred Wittmann and senior real estate analyst Lauren O'Neil worked exclusively on behalf of the borrower, Boylston Properties Company, Inc., to secure the seven-year, fixed-rate loan through the Ocean Bank Division of People's United Bank. Boylston Properties Company is a Boston-based real estate development firm founded in 1983. HFF simultaneously arranged an $11.6 million refinancing with the same lender for Boylston Properties Company's CityPlace property in Boston's Theatre District.
Town Green at Wilton Center is located at 101 Ridgefield Rd. across from Village Market. The property is fully occupied by tenants including the United States Postal Service, Webster Bank, Kreg Corporation, Hunan Café and Subway.
"The Wilton retail market has remained relatively strong compared to the rest of the country during the economic downturn and the property benefits from its location in one of the wealthiest towns in the country where the median home value within a five-mile radius is $765,000," said Wittmann.