CBRE Capital Markets’ Debt & Structured Finance team has arranged a $15.25 million loan to refinance the Playhouse Square Shopping Center, an unanchored, 40,000-square-foot retail plaza in Westport.
The financing was provided by Union Savings Bank and paid off the existing debt and provided over $2 million in additional funding. CBRE”™s Mark Fisher and Alex Furnary arranged the loan on behalf of the borrower, The HB Nitkin Group.
Playhouse Square was constructed in 1972 and acquired by HB Nitkin in 1998. Located at 275 Post Road East, it is currently 97% leased with 17 tenants.
