Guggenheim Commercial Real Estate Finance has provided a $30m loan to ACF Property Manegement for its acquisition of The Shoppes at Bedford Mall, a retail center in Bedford, New Hampshire.
The 10-year, fixed rate loan carries a 65% loan-to-value based on the $46.1m that ACF paid Emmes Asset Management Company for the 277,000 sq ft complex.
Anchored by Kohl’s, Fresh Market and Marshalls, the Shoppes was fully redeveloped and renovated in 2012, which created new retail space that totals more than half of the center’s square footage. The property is 98.6% leased to additional tenants Staples, Weight Watchers, Pet Supplies Plus, Bob’s Store, Starbucks, Chipotle and Outback Steakhouse.
The asset, located at 73 South River Road in Bedford, is about five miles south of Manchester, the largest city in New Hampshire and its financial capital. HFF arranged the financing.
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