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Lee & Associates Arranges $5M Acquisition Loan for Retail Strip Center in Rumford, Rhode Island
RUMFORD, R.I. — Lee & Associates has arranged a $5 million acquisition loan for a 13,000-square-foot retail strip center in Rumford, located northeast of Providence.

RUMFORD, R.I. — Lee & Associates has arranged a $5 million acquisition loan for a 13,000-square-foot retail strip center in Rumford, located northeast of Providence. First Tech Federal Credit Union provided the nonrecourse loan, which was structured with a sub-6 percent interest rate and a 30-year amortization schedule. Dave Carswell and Ryan Fitzpatrick of Lee & Associates arranged the debt on behalf of the borrower, Kempner Properties, which acquired the center via a 1031 exchange. The post
Source
- REBusinessOnlinerebusinessonline.com





