FLORHAM PARK, NJ – HFF has arranged $23.8 million in acquisition financing for a seven-property retail portfolio totaling 99,675 square feet in Maryland, New Jersey and Pennsylvania.
Working exclusively on behalf of an affiliate of Lakewood, NJ-based Paramount Realty Services Inc., HFF secured the seven-year, fixed-rate loan through Investors Bank.
The properties included in the financing are: Bricktown Center, Brick Township, NJ; Brookhaven Plaza, Brookhaven, PA; Howell Plaza, Howell, NJ; Sea Girt Plaza in Wall Township, NJ; Philadelphia Plaza, Philadelphia, PA; Exton Plaza, Exton, PA; and Owings Mills Plaza, Owings Mills, MD. The portfolio was 100 percent occupied at closing by tenants including Best Buy, Staples, three full-service Wawa convenience stores, JoS. A. Bank men's clothing retailer, CVS and Santander Bank.
The HFF team representing the buyer was led by senior managing director Jon Mikula and managing director Jim Cadranell.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.
