The financing was arranged by Andrew Stewart of Chatham, NJ-based David Cronheim Mortgage Corp. Cronheim maintains correspondent and/or servicing relationships with 10 institutional investors, mostly insurance companies.
The three single-story buildings, built in the mid 1980's, total just under 90,100 sf. Situated within the 66-acre Middlesex Business Center, their tenant roster includes Catalyst Communications, Milgo/Timeplex and the headquarters of PTC, a biopharmaceutical company.
The latest financing transaction is the fourth that Cronheim has arranged at Middlesex Business Center. The earlier loans were done for American National Life Insurance and Southern Farm Bureau, both Cronheim correspondents.
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