2003 Transactions
Tremont Arranges $1,590,000
Refinance for Massachusetts Retail
The Boston office of Tremont Realty Capital arranged a $1,590,000
permanent loan to refinance the existing debt on Marrett
Square, an 8,400 square foot neighborhood retail center
with some second floor office space located at the intersection
of Marrett Street and Waltham Street in Lexington, MA. The
retail center provides the neighborhood with tenants like
Seattle's Best Coffee, Pet Source, a bakery, dry cleaner,
Belmont Savings Bank ATM, a deli, and some local office
tenants.
David Ross, a Managing
Director with Tremont, arranged the $1,590,000 loan with
a regional lender that has just expanded its lending area
into Massachusetts. The ten-year loan was structured as
a one-year, adjustable rate mortgage with an initial interest
rate of 4.76%. According to David Ross, "The sponsor,
Camblex Realty Trust, was very happy with the regional lender
and its process." Tremont worked with the lender to
provide Camblex with the loan term and interest rate structure
that it was seeking.
For additional information on this transaction, please contact:
David Ross
Managing Director
Email: dross@tremontcapital.com
Phone: 617.867.0700 x773
