Real Estate Journal — Central New Jersey — June 9 - 22, 2017 — 7B
www.marejournal.com
M id A tlantic
N orthern N ew J ersey Located in Basking Ridge and Warren Cronheim Mortgage arranges financing totaling $10.875m for two, mixed-use properties S omerset County, NJ — Cronheim Mort- gage arranged financing
totaling $10.875MM for two, mixed-use properties located in Basking Ridge and Warren, Somerset County. The loans were placed with The State Life Insurance Company and Southern Farm Bureau Life Insurance Company, whom Cronheim represents as corre- spondent and servicing agent. Riverwalk Village, located in Basking Ridge, received $8.5MM in financing. The 18 year loan is self-liquidating and has an interest rate of 3.81% which the borrower was able to lock 11 months prior to fund- ing. The Subject encompasses 47,604 s/f and is leased to a variety of retail tenants includ- ing Starbucks, Supercuts, and Gymboree, among many others. There is also second floor office space leased to the YMCA, a chiropractor, and orthodontist. Gateway East inWarren, NJ was refinanced for $2.375MM on a 15/25 basis. The inter- est rate is fixed for the term of the loan at 3.76%. This property is comprised of two, freestanding, two-story build- ings with first floor retail and professional office space on the second floors. Tenants include Subway, Great Clips, a Pilates studio, law offices, and a den- tist. The property is located at a signalized intersection and has surface parking for 89 vehicles. These loans were originated and placed by Andrew Stew- art , Dev Morris , and Allison Villamagna . n Cullen & Dykman Partner named president of the Bergen County Bar Association HACKENSACK, NJ — Cullen and Dykman LLP announced that partner Da- vid Edelber g has been named the 119th president of the Ber- gen County Bar Association. Throughout his 34-year ca- reer, Edelberg has proven him- self an expert on bankruptcy law, authoring multiple ar- ticles on Bankruptcy Code and lecturing on behalf of the New Jersey Institute of Continuing Legal Education, the Seton Hall Business School, Bergen Community College and the National Business Institute concerning bankruptcy law. n
Riverwalk Village
Gateway East
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