Permanent
- $10,000,000
- 51,000 sf Grocery Store
- Burlington, MA
Axiom Capital Corp. has structured and arranged the closing of a $10,000,000 permanent loan for the refinance of a grocery store in Burlington, MA. The five year non-recourse loan was closed at a fixed rate and had an option to extend the loan for an additional five year term. The loan demonstrated a 64.5% Loan to Value and a 1.80x Debt Service Coverage Ratio amortized over 30 years.
The property is a 51,000 SF single tenant grocery store occupied by H Mart Supermarkets. H Mart is an American supermarket chain operated by the Hanahreum Group. This store is one of the 50 plus locations located throughout 11 states in the US. H Mart specializes in providing Asian foods and high quality fresh meats and vegetables.
The subject property is strategically located immediately off Exit 32 of I-95/Route 128 in Burlington. It is directly adjacent to Middlesex Commons, a 245,510 SF newly-constructed shopping center and less than a half mile from the 1.3 million SF Burlington Mall. Exit 32 is the Burlington I-95/Route 128 Middlesex Turnpike Interchange which is one of the busiest retail corridors in suburban Boston.