HFF Secures $50.6 Million for Refinancing of 6-Property New England Retail Portfolio

Boston – The properties in the portfolio are 97.7 percent leased to tenants that include Trader Joe’s, CVS Pharmacy, Rite Aid, Starbucks, Panera Bread, Chipotle Mexican Grill, Bank of America and Dunkin’ Donuts.

Boston – HFF has secured a $50.6-million for refinancing of a six-property, 224,001-square-foot retail portfolio in New England. Working on behalf of Linear Retail Properties, HFF placed the fixed-rate loan with Allianz Real Estate of America LLC.

The portfolio consists of 1000 Bald Hill Road in Warwick, R.I.; Burlington Marketplace in Burlington, Mass.; Peabody Gardens in Peabody, Mass.; Flint Village Plaza in Fall River, Mass.; 345 Main Street in Reading, Mass., and 1 Carlisle Road in Westford, Mass. The properties are 97.7 percent leased to tenants that include Trader Joe’s, CVS Pharmacy, Rite Aid, Starbucks, Panera Bread, Chipotle Mexican Grill, Bank of America and Dunkin’ Donuts.

The HFF debt placement team representing the borrower was led by senior managing director Riaz Cassum and senior real estate analyst Brett Paulsrud. Linear Retail’s current portfolio of approximately 1.38 million square feet was valued at nearly $500 million in September 2013. 

Scott Reid 

 

 

 

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