Kempner Properties Secures $5 Million Loan For Retail Center Acquisition In Rumford, RI

The asset involved in this transaction is a 13,000-square-foot retail center located at 75 Newport Avenue in Rumford, Rhode Island. The acquisition price for the property was $8.5 million, with a loan amount of $5 million being arranged for this permanent first mortgage.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $8,500,000
• Loan Amount: $5,000,000
• Date: 07/22/2026
• Lender: First Tech Federal Credit Union
• Landlord: Kempner Properties
• Buyer's Representative: Dave Carswell & Ryan Fitzpatrick - Lee & Associates NYC
• Seller's Representative: Todd Tremblay & Robert Horvath - Horvath & Tremblay

This transaction features key representatives from both sides, with Dave Carswell and Ryan Fitzpatrick representing the buyer, Kempner Properties, through Lee & Associates NYC. On the other side, the seller was represented by Todd Tremblay and Robert Horvath from Horvath & Tremblay.