FLORHAM PARK, NJ – HFF has arranged $23.8 million in acquisition financing for a seven-property retail portfolio totaling 99,675 square feet in Maryland, New Jersey and Pennsylvania.
Working exclusively on behalf of an affiliate of Lakewood, NJ-based Paramount Realty Services Inc., HFF secured the seven-year, fixed-rate loan through Investors Bank.
The properties included in the financing are: Bricktown Center, Brick Township, NJ; Brookhaven Plaza, Brookhaven, PA; Howell Plaza, Howell, NJ; Sea Girt Plaza in Wall Township, NJ; Philadelphia Plaza, Philadelphia, PA; Exton Plaza, Exton, PA; and Owings Mills Plaza, Owings Mills, MD. The portfolio was 100 percent occupied at closing by tenants including Best Buy, Staples, three full-service Wawa convenience stores, JoS. A. Bank men's clothing retailer, CVS and Santander Bank.
The HFF team representing the buyer was led by senior managing director Jon Mikula and managing director Jim Cadranell.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
