Fantini & Gorga has placed $35 million in permanent financing for the Westborough Shopping Center.

The 375,000-square-foot retail center is owned by Colangelo Massachusetts Real Estate LLC and located at the intersection of Route 9 and Lyman Street.

The loan was funded by Morgan Stanley Mortgage Capital Holdings, an affiliate of the financial services giant Morgan Stanley.

The center is anchored by a Super Stop & Shop and other national tenants that include Staples, Marshalls, Home Goods, Ruby Tuesdays and Starbucks. In addition to approximately 290,000 square feet of retail space, the center contains about 85,000 square feet of office space occupied primarily by local businesses seeking a convenient location with many amenities.    

"Our client was seeking to refinance the property on a long-term basis at today’s historically low fixed rates," said Keith Wentzel, managing director at Fantini & Gorga who arranged the financing. "We were able to substantially lower his interest rate and debt service costs with a loan structure that included two years of interest only payments followed by a 30-year amortization schedule."

The Colangelo family opened the shopping center more than 40 years ago with a single owner-operated independent grocery store. Over the years the center has been redeveloped and expanded.