A 17-tenant Westport shopping center will retire its existing debt after receiving $15.25 million in financing from Union Savings Bank.
Owners HB Nitkin Group of Greenwich received an additional $2 million in funding as part of the transaction, which was arranged by CBRE’s Mark Fisher and Alex Furnary.
The 40,000-square-foot Playhouse Square Shopping Center at 275 Post Road East was completed in 1972 and is 97-percent leased. The firm has owned the property since 1998.
“Playhouse Square is one of our top-performing assets and has consistently remained as such throughout the years,” HB Nitkin Managing Director Craig Way said in a statement.
HB Nitkin owns 1 million square feet of commercial real estate in Connecticut including office, medical office, multifamily and retail properties.





