The owners of a Salem shopping center have refinanced the mortgage on their property with an $11 million loan. 

Boston-based mortgage bankers Fantini & Gorga recently arranged the loan for the refinancing of North Broadway Crossing.  

Casimir Groblewski, senior managing director, and Lindsay Feig, senior analyst, represented the center’s owner, listed as a Massachusetts limited liability company in Salem land records.  

“We were pleased to assist our client with a loan proposal that met its specific requirements for this refinancing,” Groblewski said in a statement. “The quality of the development, its occupancy history, and the extensive management experience of the borrower, which was the original developer, generated strong interest from a variety of lenders. The successful bid came from a major Massachusetts-based financial institution which offered a competitive and creative loan structure.” 

North Broadway Crossing is sited at 236 North Broadway on 9.75 acres with 900 feet of frontage on, and access to, Rte. 28. It adjoins Burlington Self Storage of Salem. The four-building complex, which was developed from 2005 to 2007, includes among its major tenants Pentucket Bank and Irving Oil (both ground leases), and the well-known McKinnon’s Market. Other tenants include Maddie’s Bagel & Eatery, Wasabi Hibachi Restaurant and Edible Arrangements. The two multitenant buildings contain 56,000 square feet of rentable space.