FLORHAM PARK, NJ-HFF has arranged an $11.75 million refinancing for Greentree Square, a 110,296-square-foot shopping center in Marlton, NJ, that is anchored by a Whole Foods grocery store.
HFF worked exclusively on behalf of the borrower, Mainardi Management Co., securing a 10-year, fixed-rate loan through Allstate Investments, LLC. The loan replaces a first mortgage that had been arranged by HFF, and the company will service the new loan.
“The property is an example of how aggressive lenders will get to originate low- leverage retail loans in our market,” says HFF senior managing director Thomas Didio, who led the team for the refinance project along with senior real estate analyst Michael Cerulo.
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