In the transaction, Cronheim acted as both mortgage correspondent and servicing agent. Neither the borrower or the source of the financing was identified.
The two-story complex is situated on a 19-acre parcel and has parking for more than 800 cars. The property was originally built in 1965, according to Stewart.
DCMC and its affiliate companies, based in Chatham, NJ, maintain correspondent and/or servicing relationships with 10 institutional investors, mostly insurance companies. The firm also acts as a real estate advisor to two REITs: the Monmouth Real Estate Investment Trust Corp. and United Mobile Homes Inc.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
