Advance Realty Investors Secures $72.5M Loan For Ledgewood Commons Redevelopment

The Shops at Ledgewood Commons in Roxbury Township, NJ, 07852 is a retail property that recently secured a $72.5 million construction loan from Santander Bank. The property is part of the Ledgewood market and is owned by affiliates of Advance Realty Investors. The redevelopment project is aimed at revitalizing the retail center to better serve the modern retail environment.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $72,500,000.00
• Address: 461 Nj-10, Roxbury Township, NJ, 07852
• Market: Ledgewood
• Borrower's Rep: Sridhar Vankayala (Cushman & Wakefield), T. J. Sullivan (Cushman & Wakefield), Zackary Kraft (Cushman & Wakefield)
• Lender: Santander Bank

Cushman & Wakefield's Equity, Debt & Structured Finance team, consisting of Sridhar Vankayala, T. J. Sullivan, and Zackary Kraft, played a pivotal role in arranging the financing for the project. John Alascio highlighted the significance of experienced sponsors attracting strong demand from lenders, ultimately leading to securing the loan with Santander Bank. The partnership between Advance Realty Investors and Santander is expected to result in the successful repositioning of Ledgewood Commons into a vibrant retail power center.