Mid Atlantic Real Estate Journal — March 4 - 27, 204 — C
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F inancial D igest
James Gunning, Donna Falzarano, and Evan kleppe secure loan CBRE Group’s NJ Debt & Structured Finance team completes $0.5 million refinancing M ILFoRD, CT — CBRE Group Inc. , a New Jersey com- environment, the borrower had a number of competitive options.
The shopping center has a diverse tenant roster, includ- ing anchor tenants Michaels, Big Lots and Pier 1 Imports, as well as multiple retailers that have occupied the space for 10 or more years. The property benefits from its close proxim- ity to the Interstate-95 and Merritt Parkway Interchange, in addition to the retail traf- fic generated by the nearby Westfield Connecticut Post Mall and the Milford Crossing Shopping Center. n
mercial real estate brokerage firm, announced that its Debt & Structured Finance team completed a $10.5 million re- financing of Turnpike Square, a 95% occupied retail shopping center in Milford, CT. The CBRE team of James Gunning, Donna Falzara- no, and Evankleppe secured the loan, with a 10-year term and 30-year amortization, at a competitive interest rate through Deutsche Bank , on behalf of the borrower, Mil- ford Associates . The loan was secured by a 105,461 s/f retail shopping center at 70 Turnpike Square. CBRE’s marketing effort resulted in higher proceeds than requested at an attrac- tive interest rate. Due to strong relationships between CBRE and various capital sources, market liquidity and an attractive interest rate NorthMarq Capital arranges $9.065 million
Turnpike Square
A ttention owners of commerciAl & investment reAl estAte
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Washington Heights
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wESTCHESTER, NY/CT — Robert Ranieri, senior vice president/managing direc- tor of NorthMarq Capital’s Greater Westchester NY/CT regional office arranged refi- nancing of $9.065 million for Washington Heights Apart- ments, a 96-unit multifamily property located at 168-174 Washington Street in Bloom- field, NJ. The transaction was structured with a 10-year term and 30-year amortization. NorthMarq arranged financ- ing for the borrower through its seller/servicer relationship with Freddie Mac. n
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