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JLL Arranges Refi of CVS-Anchored Neighborhood Center
JLL Capital Markets arranged a $7.5-million refinancing for Quincy & Company’s Pond Street Mall, a 28,164-square-foot, CVS-anchored retail center in the Boston-area community of Newburyport, MA. The long-term, fixed rate, non-recourse loan was placed with Centreville Bank.
Pond Street Mall is a neighborhood retail center with a tenant lineup that includes a high-performing CVS, YWCA and Panda Dry Cleaners. Quincy & Company acquired it in 2014.
The Capital Markets debt placement team representing the borrower was led by senior managing director Lauren O’Neil and director Martha Nay. Centreville Bank’s Craig Schermerhorn, VP of commercial lending, represented the lender.
“The combination of outstanding sponsorship and strong, stable real estate allowed for a superior, long-term, non-recourse execution for the borrower,” Nay said. “Centreville Bank was a tremendous partner for Quincy and Company from start to finish in placing this loan.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing
