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/

CVS Pharmacy - Huntington, NY

Updated: Sep 12, 2018


Huntington, NY – Allison Moravec and Andrew Stewart have arranged permanent financing of $6,300,000 for a freestanding CVS Pharmacy located in Huntington, Suffolk County, New York. The rate was locked 3 months prior to closing, allowing the borrower to secure a competitive fixed-rate for 15 years, on a self-liquidating basis. The loan was structured for DML Properties, LLC, and was placed with National Life Insurance Company, whom Cronheim represents as correspondent and servicing agent.

The Subject is a 13,013 square foot, freestanding building, solely tenanted by CVS Pharmacy. The property is located on the southwest corner of New York Avenue and Hill Place. The area immediately surrounding the subject property is developed with a variety of restaurants and commercial properties, including a King Kullen grocery store located on an adjacent lot.

The subject is centrally positioned within a predominantly high-median income community which has allowed the property to remain competitive with very little nearby competition. Within a 3 mile radius of the subject property, the average household income is $140,000.

 

© 2018 by Cronheim Mortgage. Proudly created by FedUp Digital.

  • Cronheim Mortgage LinkedIn