CRONHEIM MORTGAGE ARRANGES $40,000,000

FOR 4 INDUSTRIAL BUILDINGS IN NORTHERN NEW JERSEY

1,132,072 SF HARTZ MOUNTAIN PORTFOLIO

Northern NJ – Andrew Stewart, Dev Morris and Lisa McMahon of Cronheim Mortgage have arranged financing of $40,000,000 for four industrial buildings located in northern New Jersey, totaling 1.13 million square feet. The four building portfolio is owned by affiliated entities of Hartz Mountain Industries, Inc. The non recourse loan, funded through Cronheim with funds provided by one of its insurance company correspondents, has a 5-year term amortized over 25 years at an interest rate of 6.65%.

According to Andrew Stewart, CEO of David Cronheim Mortgage Corporation, “This investment is based not only on our long term belief in the New Jersey industrial market, but in the management capability of Hartz Mountain as a premier operator. Cronheim is committed to providing capital for commercial real estate and has continued to throughout 2009.”

The buildings were built between 1977 and 1990 and are all located in Secaucus and other Northern NJ towns where Hartz’s core portfolio is concentrated. The Hartz portfolio includes approximately 185 properties comprised of over 35 million square feet in New Jersey with prime locations in Edison, Ridgefield Park, Jersey City, Kearny, Linden, Hanover, Secaucus, Weehawken, and Newark. Hartz owns and manages a diversified real estate portfolio including first-class corporate offices, warehouse and distribution facilities, hotels, single and multi-family developments, retail centers, movie theaters and restaurants.