Retail Property

Downtown Providence, RI

Located at the bustling intersection of Empire and Westminster Streets in Downtown Providence, this multi-tenant property has been a neighborhood anchor for many years. Three of the tenants — Cafe La France, Dunkin’ Donuts, and Finnegan’s Draft House — have been tenants for almost 2 decades. The property owner’s mortgage loan matured in early 2011. Despite tremendous debt service coverage and a solid loan performance history, the bank elected not to renew the loan. On behalf of the property owner, Clubhouse Capital secured a fixed rate mortgage loan, funded by a regional bank. (Summer 2011)