Cronheim Mortgage Secures $11M Refinancing Deal For Marketplace At Cinnaminson

The Walmart-anchored Marketplace at Cinnaminson in New Jersey has successfully secured an $11 million refinancing deal. The property, located at 2501 Burlington Pike, spans a total area of 39.58 acres and offers 328,000 square feet of retail space. It is situated in the bustling market of Cinnaminson.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $11,000,000
• Address: 2501 Burlington Pike
• Market: Cinnaminson
• Square Footage: 328,000
• Acres: 39.58

The loan for this transaction was provided by American United Life (AUL), while the refinancing was facilitated by Cronheim Mortgage. The borrower, represented by Allison Villamagna, Andrew Stewart, and Dev Morris from Cronheim Mortgage, benefited from favorable loan terms. The terms include a 30-year amortization period and a 120-day rate lock, which aim to optimize cash flow for the borrower, especially in a volatile interest rate environment.

It's worth noting that National Realty & Development Corp. (NRDC), led by Jack Baker, serves as the landlord for this property.