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CHATHAM, NJ-In two separate transactions, David Cronheim Mortgage Corp., based here, has arranged a total of $18.5 million in financing. In the larger of the two deals, the firm has put together an $11 million package for Berkeley Plaza, a 100,000-sf shopping center in Bayville, Ocean County, NJ. The loan, which has a 10-year term amortized over 23 years, was placed with Prudential for owner Mainardi Management of Wayne, NJ. Cronheim also represents Prudential as the Pru Express advisor for New York and New Jersey.

Berkeley Plaza is a 13-tenant neighborhood shopping center anchored by a new 60,800-sf ShopRite supermarket, which occupies the location under as 20-year triple net lease. Other in-line tenants include Family Dollar, Blockbuster and Sleepy’s and McDonald’s, Dunkin Donuts and Kearny Federal Savings Bank occupy pad sites.

In the second transaction, Cronheim has arranged funding of $7.5 million for Ridgedale Gardens, a 252-unit garden-style apartment complex in Piscataway, NJ. The loan, which has a 10-year term and 30-year amortization, was placed with AIG, which Cronheim represents as correspondent and servicing agent. The identity of the owner was not disclosed. Ridgedale Gardens consists of 21, two-story buildings on a 13-acre site just off of I-287 in Middlesex County.

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