"In the face of great uncertainty in the automobile industry, particularly at the retail level, we were pleased to be able to respond to our client's refinancing requirements with a creative and solidly structured loan package," says Casimir Groblewski, managing director of Fantini & Gorga, the Boston-based mortgage banking firm that secured the loan. Groblewski cited the solid reputation of the borrowers and the "high quality and successful history of the properties" for being able to arrange the refinancing through an unnamed national life insurance company.

Two of the properties are located in North Hampton, the larger of which is 177 Lafayette Rd. Home to Hampton Ford & Hyundai, which opened in 1984, the parcel is comprised of nine acres and two buildings totaling more than 53,000 sf. The other is a 3.2-acre site at 170 Lafayette Rd. with a 20,000-sf building occupied by Sunbelt Rentals, one of the country's largest equipment leasing companies.Located a little farther inland, the third property is just off Route 108 in Exeter at a site where McFarland Ford has operated for over a half-century. That property is anchored by a recently restored 28,000-sf building.

According to Groblewski, the $7.8 million is being used to consolidate various bank loans into a long-term, fixed-rate accommodation. An affiliate of Eastern Bank, Fantini & Gorga arranges a mix of traditional debt, mezzanine capital and equity financing for all commercial property types across the country.