Christmas Tree Shops Plaza received $9,675,000 borrowed by Christmas Tree Shops Plaza LLC and Bernie's Plaza received $7,950,000 borrowed by Cumberland Avenue Plaza LLC. Both properties are in North Attleboro. The third property in Connecticut, Hale Road Plaza, received $10,725,000 borrowed by Hale Road Plaza LLC. Anchor tenants for the three properties are the Christmas Tree Shops, MVP Sports, David's Bridal and the Guitar Center. The three retail properties have a total of 269,107 sf.
"This was a repeat borrower and there were no glitches in this deal," John D. Motzel, vice president of the Red Bank New Jersey office, tells Globest.com. Motzel arranged the transactions.
Horsham, PA-based GMAC has more than 50 offices nationwide and has a servicing portfolio of over $82 billion. It is a wholly owned subsidiary of GMAC Commercial Holding Corp.
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