Don Mancini, Principal at Kelleher & Sadowsky Associates, Inc. of Worcester, recently represented both Canton Partners Group, LLC and Waltham Street Investors, LLC. in the refinancing of 2-8 Pequot Way, Canton and 5 Waltham St., Wilmington respectively. Canton Partners Group, LLC refinanced the Pequot Way property for $1.8 million while Waltham Street Investors refinanced their Wilmington property for $3.6 million.
The properties were both partially leased in 2016 but were brought up to 100 percent occupancy the following year. Through strategic analysis Kelleher and Sadowsky allowed the borrowers to recapitalize their properties, funding both tenant improvements and leasing commissions allowing for their 2017 stabilizations. All parties were able to cash out with capital to be used for further acquisitions. Savers Bank of Southbridge Massachusetts provided the financing for both transactions and was a tremendous partner in being able to achieve the borrowers financing objectives.