FINANCED
Color Management Secures $13.1M Loan For New Jersey Retail Centers
1000 South Elmora Avenue & 340-394 East Irving Park Road
Retail
Financed 291 days ago
Summary
Loan
NEW JERSEY
Retail
Cronheim Mortgage has arranged a $13.1 million loan for two fully leased retail centers in New Jersey. The properties, Color Plaza and Roselle Commons, are located at 1000 South Elmora Avenue and 340-394 East Irving Park Road, respectively. Both centers are situated in the markets of Elizabeth and Roselle.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $13,100,000
- Date: 07/24/2023
- Landlord: Color Management
- Brokers: Andrew Stewart, Dev Moris & Allison Villamagna - Cronheim Mortgage
- Loan Type: Acquisition Loan
- Loan Terms: 10-year, interest-only
The loan, secured by Cronheim Mortgage on behalf of an affiliate of Color Management, is an acquisition loan with a term of 10 years. It offers interest-only financing, providing flexibility for the borrower.
Players
Details
FINANCED
IMAGE: Andrew Stewart, Dev Moris & Allison Villamagna
DATE: 07/24/2023
ADDRESS: 1000 South Elmora Avenue & 340-394 East Irving Park Road
MARKET: Elizabeth & Roselle
ASSET TYPE: Retail
LANDLORD: Color Management
BROKERS: Andrew Stewart, Dev Moris & Allison Villamagna - Cronheim Mortgage (@Cronheim_Mortgage)
LOAN AMOUNT: $13,100,000
LOAN TYPE: Acquisition Loan
LOAN TERMS: 10-year, interest-only
NOTE: Cronheim Mortgage arranged a $13.1 million loan for two New Jersey retail centers, Color Plaza and Roselle Commons, both fully leased. The 10-year, interest-only financing was secured on behalf of the borrower, an affiliate of Color Management.View on map
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Address1000 South Elmora Avenue & 340-394 East Irving Park Road
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