EagleBridge Capital has arranged permanent mortgage financing in the amount of $12.7 million for a multi-state portfolio of retail and office buildings. The portfolio includes 6 retail buildings and 2 office buildings.
The mortgage financing was arranged by EagleBridge principals Brian Sheehan and Ted Sidel who stated that the loan was provided by a leading financial institution. The financing proceeds were used to refinance the existing mortgages, cover all closing costs including prepayment premiums, and provide cash out to the borrower. Total time from term sheet signature to closing was less than 35 days.
The retail buildings are located in Mansfield and Attleboro, MA, North Windham, CT, North Kingston, RI, and North Hampton, NH. The two office buildings are located in Lincoln, RI.
Retail tenants include Rite Aid, Advance Auto Parts, AT&T, Great Harvest Bread, Goodwill, AutoZone, and Dollar Tree. The office buildings contain 30,000 s/f leased to fifteen tenants.
Sheehan and Sidel said, "We are pleased that EagleBridge was able to arrange financing within a very short closing window and provide permanent mortgage at a very competitive rate."
EagleBridge is a mortgage banking firm specializing in arranging debt and equity financing as well as joint ventures for shopping centers, free standing retail buildings, apartments, office, industrial, and r & d buildings, hotels, condominiums, and mixed use properties.