The David Cronheim Mortgage Corp. of Chatham, NJ arranged thefinancial package; the buyer, seller and source of the funding hasnot been disclosed. Cronheim has correspondent relationships with10 life insurance companies and three investment banks. Thetwo-year interest-only loan has a one-year extension option to beamortized over a 25-year period.
The property lies across heavily-traveled Route 46 fromWillowbrook Mall, one of the largest retail properties in NewJersey. The Route 46/23 corridor consists of extensive retail,office and other commercial uses.
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