$19M in Financing Secured for Supermarket

DORCHESTER, MA-The broker involved says that this is one of the highest mortgages per sf for a free-standing supermarket in the region. The recently completed Shaw's Supermarket totals 44,200 sf.

By Naomi Grossman | October 30, 2003 at 01:01 AM

NorthMarq Capital's senior vice presidents Joseph Hegenbart and Stanley Sidel arranged the financing. Hegenbart notes that "At $430 per sf this is one of the highest mortgages per sf for a free-standing supermarket achieved to date in New England."

According to Sidel and Hegenbart, the financing was provided by Legg Mason Mortgage Capital Corp. under its private placement credit tenant lease financing program. Fantini & Gorga served as advisor to the borrower.

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