GlobeSt.com

Working in tandem with CBRE's brokerage group in Providence,managing director Frank Petz and senior analyst Deb Dalton ofCBRE/Melody's Boston team arranged $6 million in equity financingand a $21.5-million bridge loan for Albion Crossing, a jointventure between Gray's Point Investments and Perseus RealtyPartners. According to Dalton, many lenders were eager to supportthe venture, citing a combination of improving market conditions,solid ownership and steady cash flow from the 10-year, 155,000-sfleaseback to AT Cross.

"As a lender, when you have all three of those dynamicstogether, it becomes easy for them to do the deal," Dalton tellsGlobeSt.com, with the only impediment being size minimums ofcertain funding sources. Among the prospects CBRE/Melody tappedinto, Dalton says "nobody was not interested" in participating.Neither Dalton nor Petz, who praised the cooperation between hisoffice and CBRE's Providence brokers, would identify thelenders.