Boston & New England + New England + Retail | March 24, 2020

NKF Arranges $29M Debt for Central CT Retail

NKF arranged a $29-million fixed-rate loan to refinance Naugatuck Shopping Center in the central Connecticut city of Waterbury. The NKF team was led by Dustin Stolly and Jordan Roeschlaub, co-heads of the New York debt & structured finance team, along with senior managing directors Nick Scribani and Chris Kramer. UBS provided the loan. The borrower was not disclosed.

The 383,000-square-foot, grocery-anchored power shopping center is home to several well-known tenants, including Walmart, Stop & Shop, Sprint, Weight Watchers and Comcast, and is approximately 98% occupied. Both Walmart and Stop & Shop—which extended its lease—have performed renovations to their spaces within the past year.

“This property’s diversified roster of tenants makes it a popular destination for the regional retail community,” said Stolly. “The recent extension by Stop & Shop underscores the center’s strong location and its importance to area residents and travelers alike.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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