The loan was placed for a 10-year term and a 22-yearamortization for the borrower, an affiliate of NRDC, according toStewart. With the transaction, American National Insurance Co.extended and increased an original loan of $12.7 million datingback to 1997, with Cronheim Mortgage acting as correspondent andservicing agent for both the earlier loan and the latestfinancing.

The property is a 262,000-sf community shopping center anchoredby a 116,560-sf Wal-Mart, a 59,200-sf Shop-Rite supermarket and a28,000-sf TJ Maxx. The center also contains 24 in-line tenants,including Hollywood Video, Pet Valu, Dollar Tree, Payless Shoes andVerizon Wireless.

Just under 33,000 sf was added to the property earlier this yearto accommodate TJ Maxx and Payless, as well as EB Games. Thecenter's expansion resulted in the renewal and increase in theearlier $12.7 million financing package.