Updated Jul 17, 2026
Alpine Real Estate Partners Secures $21 Million Loan For The Plaza At Cape May Court House
11 Court House South Dennis Road
$21,000,000
$128/SF
Building Size
163,629 SF
Asset Type
Retail
Closing
Jul 16, 2026
About this deal
AI
The Plaza at Cape May Court House is a grocery-anchored retail center located at 11 Court House South Dennis Road in Cape May Court House, NJ. The asset spans 163,629 square feet and is fully leased to a mix of national retailers and service providers, with Acme serving as a longstanding tenant.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $21,000,000
- Loan Terms: fixed-rate
- Landlord: Alpine Real Estate Partners
- Brokers: Brandon Szwalbenest, Dev Morris & Andrew Stewart - Cronheim Mortgage
Cronheim Mortgage arranged a permanent loan for the acquisition on behalf of Alpine Real Estate Partners. The transaction highlights the involvement of brokers Brandon Szwalbenest, Dev Morris, and Andrew Stewart, who played a crucial role in securing the financing for this retail center.
Players
Cape May Court House Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.76%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93