RARITAN TWP., NJ-An $11.5 million refinancing package has been arranged for Prestige Plaza, a supermarket-anchored strip here. The 62,356-sf center, anchored by Stop & Shop and Commerce Bank, is located at Route 31 and 202 in Hunterdon County near the CBD of county seat Flemington.
The funding was provided by Principal Real Estate Investors. The transaction was arranged for owner Raritan Village Shopping Center LLC, a local group, by senior managing director Jon Mikula and director John Taylor of the Florham Park, NJ office of Holliday Fenoglio Fowler. The financing carries a 10-year term at a fixed rate. Further details were not released.
"The ownership took advantage of the aggressive capital markets environment to replace an existing financing," Mikula says.
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