BOSTON (May 23, 2014) – John A. Sullivan, senior vice president of NorthMarq Capital’s Boston based regional office secured the $17 million refinance of the Chelmsford Mall, a 223,977 sq.ft. retail property located at 265 Chelmsford Street, Chelmsford, Massachusetts. The transaction was structured with a 10-year term and 25-year amortization schedule. Major tenants of the property include: Kohl’s, Michael’s Stores, Gym World, PetSmart and Staples. Additional capital was provided for future improvements on the site.
“We appreciate the opportunity to continue our strong relationship with one of the premier owner operators in the market,” said Sullivan. “The lender was impressed with the location, asset quality and strong management of the borrower, which was evident in their competitive rates and terms.”
