Maine Street Capital arranged the financing on this out-of-state Hannaford anchored shopping center. The non-recourse loan was structured with a 2 phase draw schedule contemplating the as-is value for draw one, and the as-complete value for the second draw upon completion of the 21,000 square foot TJ Maxx retail space being built. The borrower had the ability to lock in the long-term debt at the first funding for the entire balance.
