Ted Sidel and Brian Sheehan of EagleBridge Capital have arranged long term, fixed rate mortgage financing in the amount of $10 million for the 9/27 Shopping Center, on behalf of its client, Finard Properties. EagleBridge arranged the financing with a leading insurance company.
The 9/27 Shopping Center is an 85,060 s/f retail center anchored by a Super Stop & Shop Supermarket located at the intersection of Rtes. 9 and 27.
The center is 100% leased. In addition to Super Stop & Shop, other tenants include Panera Bread, Aspen Dental, Music Go Round, Five Guys Burgers, Boston Tan, The UPS Store, Haircuts, LTD, and Scottrade, Inc.
The 9/27 Shopping Center was developed in the late 1970's by an affiliated Finard entity and is professionally managed by Finard Properties. The center has been continuously updated over the subsequent years. It has been a consistently strong performer in their portfolio of commercial properties.
Sidel and Sheehan said, "This is an outstanding property with a great location. Average daily traffic count is 55,000. There was a great deal of interest in this center from insurance companies, CMBS lenders, and banks. The potential lenders were extremely impressed with the quality of the center and its management."
EagleBridge Capital is a Boston-based mortgage banking firm specializing in arranging debt and equity financing as well as joint ventures for retail buildings, shopping centers, condominiums, apartments, office, industrial, and r & d buildings, hotels, and mixed use properties as well as special purpose buildings.