2004 Transactions
Tremont Structures Financing
for Massachusetts Shopping Center
The
Hartford office of Tremont Realty Capital structured permanent
financing for the acquisition of The Shops at the Pond,
a 103,267 square foot shopping center located in Marlborough,
Massachusetts anchored by two national retail chains: Best
Buy and Borders.
Steve Henderson, a Senior Director with Tremont,
arranged the $21,250,000 loan, which was funded through
a regional bank. The non-recourse, 10-year loan provided
80% loan-to-value with an interest rate of 5.2%. According
to Henderson, "the borrower was seeking conduit terms
but with a portfolio lender. The client also did not want
to have reserves collected. We were able to provide them
with offers from three of our bank clients matching their
needs. The lender did a terrific job in closing the deal
in just over 30 days."
For additional information on this transaction,
please contact:
Stephen Henderson
Senior Director
Email: shenderson@tremontcapital.com
Phone: 860.548.9289
