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Bierbrier Development Receives $6.6M Financing For Arlington Shops

Oct 13, 2010 | Reprints | Unlock Link | Print

Bierbrier Development Inc. has completed $6.6 million in refinancing for Arlington Village Shops shopping center in Arlington.

John Hancock Financial provided the financing for the expanded 25,000-square-foot shopping center. Shawn Herlihy of Goedecke & Co. LLC, arranged the financing on behalf of Bierbrier Development.

Terms of the financing were not disclosed.

"We’re very pleased to receive the financing for Arlington Village shops in a difficult credit climate," said Len Bierbrier, president of Bierbrier Development. "The Arlington Village Shops loan was able to successfully match the ‘new normal’ for lending today, combining ‘A’ locations, proven cash flow, credit tenancies, experienced sponsorship and an important equity component."

The center is 90 percent leased, and will be one of the first core and shell LEED-certified retail buildings in the state, according to a statement.

Commercial & Industrial