top of page

NATIONAL FOOTPRINT

Backed by a century’s worth of knowledge and expertise, Cronheim Mortgage provides a vast array of real estate services, including debt and equity for investment grade real estate. By leveraging the strong correspondent and/or servicing relationships we have cultivated with our institutional investors, including many insurance companies, we have continuously had access to substantial debt and equity capital to invest in quality real estate at pricing well below alternative sources, especially for long-term debt. We stand out from our competitors with our strong debt servicing portfolio, currently in excess of $2,000,000,000.  Moreover, through our Channel Real Estate Funds affiliate, we have efficiently and cost-effectively provided mezzanine and equity capital for numerous real estate assets. We have placed debt/equity and serviced in 30 states, and continue to capitalize on new opportunities.

REPRESENTATIVE TRANSACTIONS

To view more of our hospitality representative transactions, please visit our hospitality branch, CRONHEIM HOTEL CAPITAL, at http://www.chccapital.com/

Search

Cronheim Mortgage Arranges $13,100,000 for NJ Retail Properties



Cronheim Mortgage arranged $13.1 million in financing for two shopping centers located in Roselle and Elizabeth, NJ. Andrew Stewart, Dev Morris, and Allison Villamagna secured the 10-year interest-only financing on behalf of an affiliate of NJ-based Color Management.


Color Plaza is a 49,309 square feet retail property located in Elizabeth, NJ, just minutes from I-95, Newark International Airport, and the Port of Newark. At closing, the Subject was fully leased to a diverse mix of 12 tenants, with several tenants having been in occupancy since the 90’s. The Subject is anchored by Seabras, a Portuguese market, and CVS. Other tenants include a nail salon, dental center, Rainbow clothing store, Karate studio, laundromat, Chinese restaurant, dollar store, and a Santander Bank on a pad. The property has experienced low vacancy rates given its strategic location in one of the densest neighborhoods. Elizabeth has a population of 137,298 residents.


Roselle Commons is a 50,142 square foot shopping center that is located on the north side of E. 1st Avenue in Roselle, NJ, less than two miles from Color Plaza. The property was developed in 2004 and was 100% leased at closing to 18 tenants including Pep Boys, Green Grocer, Quest Diagnostics, GNC, and T-Mobile, among many others. The site is shadow anchored by Home Depot, and ShopRite is less than half a mile away. The site encompasses approximately 2.870 acres and is situated within an incredibly dense neighborhood, just east of Elizabeth.

Comments

Transactions Page
bottom of page