READING, PA–Brandolini Companies has refinanced its Spring Towne Shopping Center, a 277,860-square-foot, Lowe's- and Giant-anchored retail center in Reading, Pennsylvania. HFF secured $17.7 million in a long-term, fixed-rate loan with an institutional quality insurance company that will be used to refinance an existing mortgage on the property.
The HFF team representing the seller was led by managing director Ryan Ade and senior real estate analyst Christopher Bigos. HFF declined to identify the insurance company that provided the financing.
“It's a great time to be refinancing, and keep assets' cash flowing at very low interest rates,” Ade tells GlobeSt.com exclusively. “Obviously there are more robust markets, but people still have to buy groceries, and improve their homes, so there are lots of great reasons to be in a market like Reading. There are plenty of people living in the market and shopping in the market.”
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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].
