Monday, July 27, 2015

EagleBridge Capital Arranges $6 Million Mortgage For Brooklyn Rite Aid Building


Rite Aid Building, 7821 Third Avenue, Brooklyn, NY


Boston, MA -- EagleBridge Capital has arranged permanent mortgage financing in the amount of $6,000,000 for the Rite Aid Building located at 7821 Third Avenue at the corner of 79th Street in Brooklyn, New York. 

Brian D. Sheehan
The mortgage financing was arranged by EagleBridge principals Brian D. Sheehan and Ted M. Sidel who stated that the loan was provided by a leading financial institution.

The first floor (9600 square feet) is leased to a Rite Aid Pharmacy which has been a tenant since 1997.  The second floor (9600 square feet) is leased to Tutor Time which has been a tenant since 1999.

Rite Aid is one of the largest operators of drugstores in the United States with over 4560 pharmacies in 31 states and the District of Columbia. Tutor Time is a national pre-school early education child care provider with over 200 schools throughout the United States. Tutor Time is a subsidiary of Learning Care Group.

Mr. Sheehan and Mr. Sidel stated, “We are pleased that EagleBridge was able to arrange non-recourse financing featuring a very attractive 10 year fixed rate and a 30 year amortization.”

Ted M. Sidel
EagleBridge Capital is a Boston-based mortgage banking firm specializing in arranging debt and equity financing as well as joint ventures for apartment, shopping center, free standing retail, office, industrial, r & d, hotel, condominium, and mixed use properties as well as special purpose buildings throughout New England and the United States.

For a complete copy of the company’s news release, please contact:

Stanley J. Sidel
Senior Advisor
EagleBridge Capital
33 Broad Street
Boston, MA 02109
Tel: 617-292-7177 Ext.14

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