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PORTSMOUTH, NH-The owners of a newly acquired shopping plaza have received $4.9 million in financing to fund the acquisition of the 39,092-sf neighborhood retail center. Michael Prakken, with the Boston office of CBRE|Melody, secured the 10-year, fixed rate financing for Heritage & Lafayette LLC.

As reported by GlobeSt.com, the company acquired Portsmouth's White Birch Plaza last month under the entity MRS Management, a regional real estate investment firm, from Brad Associates for $5.9 million. The financing was arranged through PNC Real Estate Finance and sponsored by MRS Management, of Topsfield, MA. The asset is located on heavily traveled Route 1 here.

Developed in 1985, the shopping center is 96% leased to tenants that include Citi Financial, Supercuts, Weight Watchers and Papa Gino's. A 3,300-sf freestanding restaurant which had been occupied by Wendy's for the last 20 years, remains vacant and is available for lease.