$55M Permanent Financing Set for Retail Complex

MAYS LANDING, NJ-A total of $55 million in fixed-rate permanent financing has been arranged for the 850,000-sf Wrangleboro Consumer Square, a retail power center located just west of Atlantic City. The property was developed in phases between 1996 and the present by the Buffalo, NY-based Benderson Development Co., which has a regional office in Springfield, NJ.

GMAC Commercial Mortgage Corp. arranged the financial through its correspondent relationship with AIG/Sun America Life Insurance Co. “AIG/Sun provided a very aggressive financing package,” according to Daniel Monte, senior VP in GMACCM’s Buffalo, NY office, which originated the loan. “All parties were very pleased with the end result.”