Onyx Partners Secures $49.5M Loan From Northern Bank & Trust For Springfield Crossing Retail Center

The asset involved in this transaction is a retail center located at 1655 Boston Road in Springfield, MA, with a total square footage of approximately 400,000. The loan amount secured for this property is $49,500,000. This retail center is set to replace Eastfield Mall and is expected to feature tenants such as BJ’s Wholesale Club, Hobby Lobby, and PetSmart, with an anticipated opening in Fall 2025.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $49,500,000
• Address: 1655 Boston Road
• Market: Springfield, MA
• Lender: Northern Bank & Trust
• Landlord: Anton Melchionda - Onyx Partners LTD

The key individuals involved in this transaction include Anton Melchionda, representing Onyx Partners LTD, who is the landlord of the property. The loan was provided by Northern Bank & Trust, facilitating the development of the retail center, which is a significant project in the Springfield area.