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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.

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

Brook 35 Plaza - Sea Girt, NJ

Updated: Sep 12, 2018


Andrew Stewart, Dev Morris, and Allison Moravec have arranged $11.5 million in financing for Brook 35 Plaza, located in Sea Girt, New Jersey. The loan was structured with a 15-year interest-only term and was placed with American General Life Insurance Company and National Union Fire Insurance Company of Pittsburgh, PA for the borrower, Sea Girt Limited Partnership, an affiliate of Federal Realty Investment Trust

Brook 35 Plaza is an open air, lifestyle center consisting of three retail buildings containing 80,877 square feet. The property, built in 1986, is leased to a high-quality mix of 20 national and local retailers, including Chico’s, Coach, the Gap, Starbucks, Victoria’s Secrets, and Williams-Sonoma. In addition, the central building was constructed with a second floor containing 13,240 square feet, 100% leased to Morgan Stanley and Premier Executive Suites.

With easy access to Route 36 and the Garden State Parkway, the subject is conveniently located along the Route 35 retail corridor in Sea Girt, Monmouth County, NJ. This 25-mile retail corridor has traffic counts of approximately 24,800 vehicles per day. Moreover, the subject location of Sea Girt, one of Monmouth County’s most affluent communities, has a solid year-round population base; Sea Girt was listed on Forbes Magazine’s 2012 list of “America’s Most Expensive Zip Codes,” with a median home price of $1,135,184, and a population of over 512,000 within a five-mile radius. Sea Girt is especially desirable as one of the major beach towns along the New Jersey shoreline.

According to Andrew Stewart, “This property will continue to evolve as one of Monmouth County’s premier lifestyle shopping centers, and is a strategic addition to the Federal Realty portfolio.”

 

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