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Nordblom Refinances 3rd Ave. Retail Block

Feb 26, 2016 | Reprints | Unlock Link

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Burlington-based Nordblom Co. has refinanced its $45-million debt on the 3rd Ave. retail complex in Burlington.

Sun Life Assurance Co. of Toronto granted the 22.5-year fixed-rate loan, which will be serviced by Colliers International. Colliers’ Jeff Black and Kevin Phelan led the Colliers debt placement team.

The 130,336-square-foot first phase of 3rd Ave., completed in 2015, contains a mix of sit-down restaurants, cafés and retailers. At full build-out, 3rd Ave will include up to 600,000 square feet of retail space, a 150-room Archer Hotel and 2 million square feet of office space. A 180-unit apartment complex, The Tremont At 3rd Ave., will open this spring with a second 120-unit phase is scheduled for 2017.

Commercial & Industrial