The New York office of Holliday Fenoglio Fowler L.P. (HFF) has arranged a $6.5 million refinancing of Pittsfield Plaza, a 126,000-square-foot retail center in Pittsfield.
HFF senior managing director Al Epstein said he worked on behalf of the borrower, Phoenix Merrill Road LLC, to secure the 10-year, 6.35 percent fixed-rate loan through a regional bank.
The transaction involved the repayment of an existing mortgage loan, which had become due, HFF said.
Located at 676 Merrill Road, Pittsfield Plaza is situated within a regional retail hub for Berkshire County that includes approximately 800,000 square feet of retail space along routes 8 and 9.
The property is occupied by tenants including Petco, TJ Maxx, Radio Shack, Hollywood Video, Dollar Tree and Home Goods.
"This is an attractive mortgage investment, in a well-established retail area, which has had a long, successful leasing history," said Epstein. "The property has strong sponsorship and experienced management."