The Giant-anchored shopping center portfolio involves seven properties located in mid to eastern Pennsylvania. The Giant-anchored shopping centerportfolio involves seven properties located in mid to easternPennsylvania.

CONSHOHOCKEN, PA—A partnership of Vastgood Properties, LLC ofPort Washington, NY and RW Partners, Inc. of Conshohocken, PA hasacquired a portfolio of seven Giant supermarket-anchored shoppingcenters in mid-to-eastern Pennsylvania for $127 million.

The deal was announced by New York City-based Meridian CapitalGroup, which arranged $97 million in acquisition financing for thenew ownership. The 10-year CMBS loan features a rate of 3.87% andfive years of interest-only payments with the balance on a 30-yearamortization schedule. The transaction was negotiated by MeridianVPs Bryan Kallenberg and Meyer Ovadia, who are both based in thecompany's New York City headquarters.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 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.

John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.

New York
Philadelphia
Retail
Capital Markets
Leasing
Northeast