News: Front Section
Posted: October 30, 2015
Citizens Bank provides $22.7 million loan to Linear Retail Properties
Bill Beckeman, Linear RetailBoston, MA Citizens Bank has provided a $22.7 million term loan to Linear Retail Properties. Linear Retail is a leading owner, developer and operator of retail properties throughout New England. The company focuses on acquiring well-located properties and improving their performance. As of today, Linear’s portfolio consists of 80 properties in Mass., N.H. and R.I.
“As a new client, we were impressed by how quickly and effectively the Citizens Commercial Real Estate Finance team was able to complete this transaction,” said Bill Beckeman, president and CEO of Linear Retail. “The funds will be used to finance seven of our properties in Greater Boston and we look forward to working more with Citizens in the future.”
“Linear Retail has a great business and we’re excited to be able to help them achieve their strategic and financial goals,” said Gary Magnuson, head of commercial real estate finance at Citizens.
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