Jeffrey S. Olson Of Urban Edge Properties Secures $123.6M Loan For Shoppers World In Framingham

The property asset involved is a retail center located at 1 Worcester Road in Framingham, MA. The asset has a square footage of 752,000 and is part of a LEED-certified development. Its significant market value is highlighted by its presence in a high-income, high-density trade area. Urban Edge Properties secured a loan amount of $123,600,000, which is structured as a four-year interest-only, non-recourse loan.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $123,600,000
• Loan Terms: Four-year loan
• Landlord: Jeffrey S. Olson - Urban Edge Properties
• Address: 1 Worcester Road
• Market: Framingham, MA
• Asset Size: 752,000 square feet

This transaction involved a portion of Shoppers World, with Urban Edge Properties utilizing part of the loan proceeds to pay off an existing $90 million credit facility. The firm manages a total portfolio of 17.1 million square feet along the D.C.–Boston corridor.