News: Front Section
Posted: July 28, 2023
Liddy of Kelleher & Sadowsky arranges $13.5 million
refinancing on behalf of Rabina
Auburn, MA Meghan Liddy, senior vice president of capital markets at Kelleher & Sadowsky Associates has arranged refinancing of the industrial distribution property at 26 Millbury St. in the amount of $13.5 million on behalf of Rabina.
26 Millbury St. is a 210,000 s/f industrial distribution building that is fully occupied by HD Supply Facilities Maintenance, Ltd., a wholly owned subsidiary of The Home Depot.
The loan was used to refinance the distribution facility. With the existing debt on the facility coming due to maturity in a volatile interest rate environment, Rabina engaged Kelleher & Sadowsky to advise on the debt placement.
Through a competitive RFP process, Liddy was able to secure a strong credit structure with Rockland Trust which enabled Rabina to manage their interest rate risk while maintaining strong investment returns from the property.
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