Mid Atlantic Real Estate Journal — New Jersey — July 12 - 25, 2013 — 7B
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ARLTON, NJ — HFF has arranged fixed- rate financing for Working on behalf of the borrower, Paramount Realty Services, Inc. HFF arranges fixed-rate financing for Trader Joe’s-anchored center in SNJ M
rage. According to Jose Cruz, “DSF has been very active in the Northeast during the last sev- eral years. This was DSF’s first acquisition in the New York area and they did a great job of working through the transac- tion and closed on time.” The HFF team representing the sellers was led by senior managing directors Jose Cruz and Andrew Scandalios , managing directors Kevin O’Hearn and Jeffrey Julien and associate director Ste- phen Simonelli . n
Marlton Square, a 78,781 s/f shopping center anchored by Trader Joe’s in Marlton. HFF worked on behalf of the borrower, Paramount Re- alty Services, Inc. , to secure the fixed-rate loan through Allstate Investments, which will be serviced by HFF. Loan proceeds were used to retire existing debt and for capital costs related to an expansion of Trader Joe’s. HFF also ar- ranged financing for Charter Oak Marketplace in early June on behalf of Paramount through a life company. Completed in 1999, Marlton Square consists of two single- story buildings totaling 74,437 s/f. Trader Joe’s is expanding its space by 4,344 s/f with an anticipated completion date in the fourth quarter 2013. Ad- ditional tenants at the center include Starbucks, The Gap, Victoria’s Secret, Charming Charlie, Janie & Jack, Chi- cos, and Bath & Body Works. Marlton Square is situated on a 10.44-acre site at 300 US Route 73 near the intersection of Route 70 about 10 miles east of Center City Philadelphia. The HFF team representing Paramount Realty Services, Inc. was led by managing di- rector Jim Cadranell and senior managing director Jon Mikula . In other HFF news, the com- pany has closed the sale of 25 Martine Ave., a 12-story, 124- unit multi-housing community in White Plains, NY. HFF marketed the property on behalf of the seller, a joint venture between Korman Com- munities and an institutional partner. The DSF Group pur- chased the community for $34 million free and clear of exist- ing debt. 25 Martine Avenue, situated in downtown White Plains, is located adjacent to The Gal- leria at White Plains, close to The Bronx River Parkway and Interstate 287, and directly across from the Metro-North White Plains train station providing access to Manhattan. Renovated in 2004, the prop- erty features studio, one- and two-bedroom units averaging 727 s/f each. Community ame- nities include a fitness center, residents lounge, internet café and a 159-space parking ga-
Marlton Square
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