A subsidiary of Katz Properties has acquired a Stoughton shopping plaza with help from $10 million in acquisition financing arranged by the Westport, Conn. office of Goedecke & Co. LLC.

The 79,300-square-foot property at 278-286 Washington St. is anchored by a Stop & Shop and a Bank of America location, according to a statement. It is known locally as the Stop & Shop plaza, and was sold by Invesco.

The total selling price was $15.4 million. The CB Richard Ellis team of Chris Angelone, Jim Koury, Bill Moylan, Nat Heald, Josh Klimkiewicz and Matt Pullen represented the seller and procured the buyer, accordign to a statement.

Goedecke Senior Vice President Timothy Breda and senior associate Kristin Adams worked exclusively on behalf of Katz Properties to secure a long-term, fixed-rate, non-recourse loan from Allstate Insurance Co. Katz Properties invests in the Northeast and Mid-Atlantic, with a focus on grocery-anchored shopping centers in primary and secondary markets, the company said.

"This is an institutional asset with a stable, high quality rent roll that was competitively bid. The borrower needed a very competitive rate and term structure in order to achieve positive leverage," Breda said in a statement. "The lending team at Allstate worked quickly and diligently with us under stringent time constraints in orderto complete the disposition requirements of the seller… This acquisition represents an opportunity for Katz Properties to acquire an institutional asset with a strong and durable cash flow under a long term hold scenario."