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Milford Massachusetts-Doug Nickerson, Nickerson Financial Corporation, Mashpee Massachusetts, is pleased to announce the placement of a loan in the amount of $6,000,000, on behalf of its client, First Merchants Group.
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The property, upon which the loan is placed, is a 168,000 square foot retail center known as Milford Plaza. The plaza is multi-tenanted, and is anchored by Kohl’s. Additional tenants include Fashion Bug, Jo-Ann Fabrics, Applebees, Radio Shack, Papa Ginos, Payless Shoes and several other local merchants. The client has owned and managed the plaza since 1997. |
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The property is ideally located, on Route 109, just one quarter mile from the I 495 interchange. The location, coupled with the quality of management, has resulted in the property being 100% leased.
The $6,000,000 loan has a fixed rate for ten years at 5.46%. It is non-recourse and amortized over 30 years.
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