Mall Secures $15M in Financing

MASHPEE, MA-Permanent financing in the amount of $15 million was secured for a portion of Mashpee Commons, a mixed-use development located in the center of Mashpee on Cape Cod. Fantini & Gorga/iCap Realty Advisors arranged the loan

The retail development consists of more than 90 stores and restaurants in a village setting. At its full build out, the Commons will consist of six interrelated neighborhoods containing retail and office space as well as housing units. The central neighborhood of Mashpee Commons contains retailers such as Talbots, Williams-Sonoma, Orvis and the Gap.

The North Market Street neighborhood of Mashpee Commons is anchored by Super Stop & Shop and contains more than 90,000 sf of first floor retail space and more than 10,000 sf of second floor office space, currently occupied by 12 tenants. The mall is located at the Pine Tree Corner Rotary.

The loan was placed with Prudential Mortgage Capital Co., for whom Fantini & Gorga/iCap acts as a correspondent in New England. “Mashpee Commons is an award-winning development and its success is evident in the strong sales results from its complementary mix of tenants,” says Tim O’Donnell, managing director/principal of Fantini & Gorga/iCap. “Prudential quickly recognized the many positive traits of the subject property and provided a very favorable loan to our client.”