PROPERTIES IN VIRGINIA AND VERMONT 

VA, VT–David Cronheim Mortgage Corporation has arranged financing of $11,100,000 for two properties located in Virginia and Vermont.

In Richmond, Virginia, $8,700,000 was arranged for New Oak Hill Plaza. The subject property consists of a 111,680 square foot community shopping center anchored by a 23,000 square foot Big Lots and 35,560 square foot Food Lion. The Subject is 100% occupied. The loan carries a 10-year term and a 30-year amortization.

The subject property is situated on Mechanicsville Turnpike, a 2 lane divided highway providing direct access to both Interstate 64 and Interstate 295. The Subject is located less than a mile away from Interstate 64, which connects to Interstate 95 only one and a half miles east. Also less than 4 miles east of the property is Interstate 295, an eastern bypass of Richmond and Petersburg that rejoins I-95 to the north of Richmond and continues west, filtering into Interstate 64. The Subject is located less than 5 miles north of downtown Richmond and also sits in close proximity to Richmond International Airport. The property is easily accessed from several major interstate roadway systems circulating the area.

In Manchester, Vermont, $2,400,000 was arranged for Equinox Square. The Subject consists of a 22,672 square foot factory outlet center consisting of four single-story buildings. 5 tenants occupy three of the buildings, which total 18,490 square feet. The fourth building contains 4,182 square feet and is ground leased to a large restaurant chain. The loan carries a 10-year term and a 25-year amortization. The Subject is strategically located on a highly saturated retail corridor containing over 125 retail and service-related outlets, approximately one mile west of Exit 4 on Route 7, the major north/south thoroughfare in the region. According to the Vermont Agency of Transportation, the 2004 average annual daily traffic volume in Manchester along Depot Street between Cottage Street and Riverside Heights was 14,500 vehicles per day.