Real Estate Weekly
Image default
Debt & Equity

Daycare secures SBA loan to buy third property

Maria Woodhouse of Bright Stars Academy Daycare LLC has purchased 142 Thompson Street in Bridgeport, CT, for her third daycare facility in the area, announced Jon Angel, president of Angel Commercial, LLC, a commercial real estate firm based in Southport, CT. 

The property was purchased for $700,000 from Bonvini Dental Laboratory Inc., who had occupied the building since its construction in 1974.

142 THOMPSON STREET

Bright Stars Academy Daycare LLC, operating as Bright Giggles Learning Center, has additional daycare facilities at 789 Fairfield Avenue and 2004 East Main Street in Bridgeport, CT, and has been providing services to infants, toddlers, and preschool-age children since 2014.

“Despite the recent surge in the number of people working from home due to COVID-19, there is an increasing need for quality daycare,” said Angel, who represented the seller in this transaction.

JON ANGEL

“The property was acquired with an SBA loan during a very uncertain time in our economy.” An SBA loan is a small business loan that provides better terms for the borrower and eliminates some of the financial institution’s risk because it is partially guaranteed by the government through the Small Business Administration.

Situated in one of Connecticut’s Enterprise Zones, which provides tax incentives to qualifying businesses, the site consists of a 5,000 s/f one-story building on 0.65 acres of land in an office/retail zone. The property is located next to Route 8, which connects to Route 25, I-95, and the Merritt Parkway. It is five minutes from the Bridgeport Metro-North Train Station.

(Visited 1 times, 1 visits today)

Related posts

Nuveen closes on acquisition of C-PACE lender Greenworks

REW

Newmark arranges $76M life science acquisition loan

REW

NYC issues biggest-ever C-PACE loan for 111 Wall retrofit

REW