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/

Palm Springs Mile - Haileah, FL

Updated: Sep 12, 2018


David Turley, Janet Proscia and Jeff Pacailler have secured $140 million for the refinance of Palm Springs Mile, a 1,280,000 square foot retail portfolio located in the Miami suburb of Hialeah, FL. Palm Springs Mile is a group of contiguous shopping and strip centers that dominate a mile of Hialeah’s primary commercial corridor along both sides of the street. Anchor tenants include Kohl’s, LA Fitness, Walmart Neighborhood Market, Burlington Coat Factory, Michaels, Toys R Us, Winn Dixie and Ross Dress for Less.

The loan was placed with one of Cronheim’s insurance company correspondents. It features a 25-year term with seven years of interest only followed by a 30-year amortization schedule.

The borrower was an entity affiliated with Philips International, an active operator and developer based in New York City. Philips International is a prolific investor across all major asset classes and a recognized pioneer in the retail and hotel sectors. The company’s holdings span more than 200 properties throughout the country. Philips International has offices in New York, Delaware, Florida and Texas.

“We are pleased to have helped the borrower accomplish its goal of locking in long-term financing while interest rates remain near historical lows,” noted David Turley. “Palm Springs Mile is one of South Florida’s premier retail assets. Cronheim Mortgage is thrilled to add this loan to our servicing portfolio.”

 

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