BLOOMFIELD, NJ-HFF arranged a $5.8 million refinancing of The Hampshire Companies' Franklin Square Shopping Center, which straddles the border of this township and Belleville.
HFF placed a five-year, fixed-rate loan for the 51,911-square-foot community shopping center with a TriState Capital Bank.
The 100-percent occupied shopping center set 10 miles west of Midtown Manhattan is leased to tenants such as Marshalls, Dots, The Children's Place, Sprint and JP Morgan Chase.
HFF's Michael Klein and Jon Mikula led its team for the transaction.
“The borrower needed to close this loan within a short time frame,” said Klein. “TriState Capital stepped up with a very competitive rate and structure and was able to close the loan within 30 days.”
The Hampshire Companies is based in Morristown. HFF operates out of 21 offices nationwide.
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