Gorman & Co. LLC Secures $12.9M Loan For Retail Center In Mount Laurel

The property involved is Larchmont Commons, a retail center located at 3103 Nj-38, Mount Laurel Township, New Jersey. The property has a total area of 128,172 square feet and was 88 percent leased at the time of the transaction. The transaction was valued at $18.2 million and includes tenants such as ALDI, Planet Fitness, and Dollar Tree.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $18,200,000
• Loan Amount: $12,900,000
• Borrower's Representative: Aryan Rabizadeh-Keller Williams
• Lender: Unknown Institutional Lender
• Sellers: RPC Real Estate and Merion Realty Partners
• Buyer's Representative: Ryan Ade of JLL
• Other Tenants: Hair Cuttery, The UPS Store, Kumon Learning Center

The transaction was facilitated by JLL, with Chris Munley, James Galbally, Jose Cruz, and Colin Behr representing the sellers. The deal included a fixed-rate acquisition loan placed through an institutional lender on behalf of the buyer, Wisconsin-based Gorman & Co. LLC.