EagleBridge Capital has arranged permanent mortgage financing in the amount of $2.4 million for the Today's Fitness Center located in Burlington and the Laser Quest Building located in Danvers, Mass.
The mortgage financing was arranged by EagleBridge principals Ted Sidel and Brian Sheehan who stated that the loan was provided by a commercial banking institution.
The Today's Fitness health club contains 17,800 s/f and features strength and training equipment, racquetball, group fitness classes, personal training, and childcare. It is located at 12 A St. in the A St. Industrial Park situated just off the Middlesex Tpke., 1 1/2 miles north of I-95/128 and the Burlington Mall and less than one mile from Rte. 3. A number of office, R & D, and industrial parks as well as apartments and single family homes are located in the immediate area.
The Laser Quest Building contains 19,400 s/f and is located in Endicott Plaza, a community shopping center anchored by the Market Basket Supermarket and Ocean State Job Lot on Endicott St. near the Rte. 128 interchange. The building's tenants include Laser Quest, a live action laser tag center, and Dogtopia of Danvers, a provider of premier quality dog daycare, overnight care, and spa services.
Sidel and Sheehan said, "We are pleased that EagleBridge was able to structure the mortgage so as to meet our borrower's requirements for a 10 year term and 25 year amortization with a very attractive fixed interest rate. Today's Fitness marks EagleBridge Capital's sixth health club financing to date."