American Street Capital Secures $12M Loan for Retail Asset in Connecticut

MANCHESTER, CONN. — American Street Capital has secured a $12 million loan to refinance a triple-net leased, single-tenant retail property in Manchester. Built in 1992 and renovated in 2018, grocer Stop & Shop currently occupies the property. The seven-acre site also includes 400 parking spaces and seven loading docks. American Street Capital secured a 10-year, fixed-rate loan with a 30-year amortization schedule on behalf of the undisclosed borrower. A correspondent CMBS lender provided the loan.