Principal Financial Group Provides $32 Million Refinance Loan To Michael X. Mattone's Retail Asset

The asset involved in this transaction is the Stop & Shop Plaza, located at 134-40 Springfield Boulevard in Springfield Gardens. It is categorized as a retail property and has been refinanced with a loan amount of $32 million, succeeding a previous $30 million mortgage from Bethpage Federal Credit Union.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $32,000,000
• Lender: Principal Financial Group
• Landlord: Michael X. Mattone - Mattone Investors
• Broker: NorthMarq
• Loan Type: Refinance

Principal Financial Group facilitated the refinancing for Mattone Investors’ property, which is part of a strategic financial restructuring aimed at optimizing their asset's financial performance. The broker representing this transaction was NorthMarq.