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Orchard Hill Park Gets $35M Financing Package

LEOMINSTER, MA-The developer of a 191,000-sf power center here receives a financing to pay off the project's construction costs. The $60-million Orchard Hill Park retail center, which opened last October, is 95% leased.

By Beverly Ford | Updated on October 13, 2006

(For more retail coverage, click GlobeSt.com/RETAIL.)

LEOMINSTER, MA-Lisciotti Development Corp. has received a $35.2-million loan to refinance the Orchard Hill Park retail center. GE Real Estate, an affiliate of GE Commercial Finance, provided the loan for the $60-million, 191,000-sf park. The project, located on Route 2 in Leominster, is expected to be complete in the spring of 2007.

Greg Lisciotti, owner of Lisciotti Development Corp., tells GlobeSt.com that the financing, provided by GE Real Estate, an affiliate of GE Commercial Finance, will go to pay off a construction loan on the project.

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