JLL Arranges $25M Loan For Retail Property In Hoboken, NJ With Minnesota Life Insurance

The shopping center located at 900 Madison St in Hoboken, New Jersey, spans 95,688 square feet and recently underwent refinancing with a $25 million loan. The center is anchored by the grocer ShopRite and was fully leased at the time of the loan closing.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $25,000,000.00
• Address: 900 Madison St, Hoboken, NJ, 07030
• Market: Hoboken
• Borrower's Rep: Thomas (Tom) Didio(JLL), Thomas Gorman Jr.(Redwood Realty Advisors)
• Lender: Minnesota Life Insurance

JLL, through its representatives Thomas Didio and Thomas Gorman Jr., arranged the $25 million loan with Minnesota Life Insurance Co. on behalf of the borrower, Northwest Redevelopment Supermarkets LLC. The loan features a 10-year term and a fixed interest rate.