The two buildings, the four-story 40 Union Ave. and the eight-story 50 Union Ave., are situated on a 1.7-acre site and are tenanted principally by health-related professionals. The assets have proximity to the Irvington General Hospital, which is affiliated with the Saint Barnabas Health Care System.
For its part, Cronheim currently services a portfolio in excess of $1 billion of debt. The company acts as a real estate advisor to two REITs, Monmouth Real Estate Investment Trust Corp. and United Mobile Homes Inc.
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