MENDHAM, NJ—Natixis Real Estate Capital likes to shop at King's, apparently. The financial firm provided a $36.65 million, 10-year term fixed-rate CMBS financing to a venture led by Thomas Maoli to refinance two Northern New Jersey shopping centers anchored by stores of the grocery chain. In a 2013 profile, the website Autonews.com reported that Maoli owns seven shopping centers and three office buildings, in addition to a Lexus showroom and a Maserati dealership.

Natixis is the corporate, investment, insurance and financial services arm of Groupe BPCE, France's 2nd-largest banking group.

The loan refinances Mendham Village Shopping Center located in Mendham, NJ and Del's Village Shopping Center located in Boonton, NJ. The financing was structured as two stand-alone mortgages to ensure that the borrower could maintain flexibility with each of the assets. The financing was arranged by David Horowitz from the office of Cooper-Horowitz in New York.

The Mendham Village Shopping Center is a 100-percent occupied retail center anchored by King's Super Market. The property has a total of 79,941 square feet leased to 26 tenants. Mendham Village has excellent access via East Main Street (N.J. Highway Route 24) which is the main thoroughfare through Mendham. The surrounding area also boasts a median household income of $134,112 within a 3-mile radius.

Del's Village Shopping Center also is a 100-percent occupied retail center anchored by King's. The property has a total 46,796 square feet leased to 14 tenants. Del's Village is conveniently located at the intersection of The Boulevard, which is the main thoroughfare through Mountain Lakes, NJ and West Main Street with convenient access to I-287.

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Natixis Lends Against Kings-Anchored Shopping Centers

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