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SECAUCUS, NJ-A total of $18.5 million in permanent financing has been arranged for 400 Mill Creek Rd., a 118,218-sf shopping complex currently under construction here. The Hartz Mountain Industries' project will be anchored by Marshall's and AC Moore when it opens in July.The deal was arranged for Hartz by Tom Didio, senior managing director in the Florham Park office of Holliday Fenoglio Fowler. The 10-year, fixed-rate package was obtained from a correspondent lender and HFF will provide servicing on the loan. According to Didio, the lender was secured during the construction period by a letter of credit from Hartz, which will be returned when construction is completed."This was a highly structured transaction involving the letter of credit and a master lease," Didio says. "The lender was willing to show a degree of flexibility to win the transaction, which I know both Hartz and the lender are happy with."The asset, which sits on a 10.2-acre site in the Meadowlands region, is located within Harmon Meadows, Hartz's 160-acre mixed-use development here. Harmon Meadows contains a total of more than four million sf of offices, retail, hotels and recreational facilities."

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