Worcester Business Journal
New York real estate investment company Rabina obtained $13.5 million to refinance its 210,000-square-foot distribution center at 26 Millbury St. in Auburn.
The site is fully occupied by a subsidiary of national retailer The Home Depot, according to a Tuesday press release from Worcester real estate firm Kelleher & Sadowsky Associates, whose Senior Vice President of Capital Markets Meghan Liddy arranged the refinancing deal with Rockland Trust.
Rabina sought to refinance the property because existing debt was coming due in a volatile interest rate environment, according to the press release.
The company refinanced a neighboring 450,000-square-foot distribution center at 28 Millbury St. in 2019.
Rabina is a family-owned real estate investment, management, and development company. It got its start with New York City apartment buildings but now owns properties around the country across residential, retail, office, and industrial sectors.
By Timothy Doyle
Sr. Vice President, Capital Markets
Kelleher & Sadowsky