The Giant-anchored shopping center portfolio involves seven properties located in mid to eastern Pennsylvania.
CONSHOHOCKEN, PA—A partnership of Vastgood Properties, LLC of Port Washington, NY and RW Partners, Inc. of Conshohocken, PA has acquired a portfolio of seven Giant supermarket-anchored shopping centers in mid-to-eastern Pennsylvania for $127 million.
The deal was announced by New York City-based Meridian Capital Group, which arranged $97 million in acquisition financing for the new ownership. The 10-year CMBS loan features a rate of 3.87% and five years of interest-only payments with the balance on a 30-year amortization schedule. The transaction was negotiated by Meridian VPs Bryan Kallenberg and Meyer Ovadia, who are both based in the company's New York City headquarters.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
