2005 Transactions
Tremont Structures $3,750,000
Permanent Financing for Connecticut Shopping Plaza
Tremont
Realty Capital structured financing for the acquisition
of Queen Bee Plaza, a 65,752 square foot multi-tenant retail
property in Southington, CT. Major tenants include Ocean
State Job Lot (24,684 sf) and a local health club (12,000
sf).
Stephen Henderson, a Senior Director with
Tremont's Hartford office, arranged the $3,750,000 loan,
which was funded through a regional bank. The 3-year, non-recourse
loan provided for roughly 78% loan-to-value with a floating
interest rate. The property was 81% occupied at the time
of closing. According to Henderson, "the borrower looked
to Tremont to structure a loan that would both maximize
proceeds and maintain flexibility, which was important given
the vacancy on the property."
For additional information on this transaction,
please contact:
Stephen Henderson
Senior Director
Email: shenderson@tremontcapital.com
Phone: 860.548.9289
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