10A — December 12 - 18, 2014 — Pennsylvania — M id A tlantic
Real Estate Journal
How Cambridge-Lee went to market faster in Greater Reading.
ATFIELD, PA — Marcus & Millic- hap Capital Corp. For a mixed-use development project in Hatfield, PA Rosenberg ofMMCCarranges $7.65 million bridge loan H
ect in Hatfield. Matthew Rosenberg , as- sociate director in MMCC’s Philadelphia office, arranged the financing. “Our client needed to fund site improvements that would add significant value to the property, but the existing lender was unwilling to in- crease their loan amount,” said Rosenberg. “We analyzed the client’s needs and MMCC identified a regional lender that provided a bridge- to-
perm loan that would both replace the existing mortgage and provide the owner with additional proceeds. We ar- ranged 18 months of inter- est-only financing through the construction phase. After that, the loan converts to a permanent loan,” Rosenberg concludes. The loan was structured with an 18-month initial term, an 18-month extension and an interest rate of 4.25 percent. The LTV is 65 percent. n
(MMCC) , a provider of commercial real estate f i n a n c i n g and capital markets ex- pertise, has a r r a n g e d $7.659 mil-
When copper tube manufacturer Cambridge-Lee Industries decided to expand operations, they chose to build a new plant in Greater Reading. More than just an affordable, strategic location in southeastern Pennsylvania, Greater Reading gave them access to a skilled workforce, a choice of excellent properties, and a well-connected business community that streamlined the approval process—so they could break ground months ahead of schedule. Discover greater possibilities. Visit GreaterReading.com.
GreaterReading.com • (610)376.4237 Be something greater.
lion in bridge financing for a mixed-use development proj-
chased the 4,130 office/retail building at 5943 Linglestown Rd., Lower Paxton Twp. where NAI CIR completes 9,880 s/f sales and leases The Bill Gladstone Group of NAI CIR represented the property owner and Joseph Bedard of NAI CIR repre- sented 510 North Third LLC. Holcomb Chiropractic Cen- ter has leased 1,400 square feet of space at 744 East Choc- olate Ave., Derry Twp.
LOWER PAXTON TWP., PA — Rosewein Realty will relocate their offices to 510 N. 3rd St., Harrisburg, a 4,350 s/f of- fice building downt own . Th e s pa c e h a s b e e n p u r c h a s e d by 510 North Third LLC. ML Ever- est Real Estate, LLC has pur- Ida McMurray
./0123.. 256.7" 81 9 .6: 7; 9<.6"
they current- ly maintain their offices. I da Mc - Murray of NA I C I R represented ML Everest Real Estate and Bayhill P a r t n e r s ,
McMurray represented Hol- comb Chiropractic Center and Wilay Boensch of LMS Commercial Real Estate represented Kingston Family Trust, the property owner. n
LLC, the property owner.
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