CEDAR SHOPPING CENTERS TAKES OUT $21 MILLION RETAIL BRIDGE LOAN

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EGG HARBOR, N.J. — Port Washington, N.Y.-based Cedar Shopping Centers has taken out a $21 million bridge loan for Shore Mall, a 626,133-square-foot retail property located in Egg Harbor. Situated on 73.27 acres, Shore Mall consists of an enclosed regional shopping center anchored by Boscov’s Department Store and Burlington Coat Factory. The property also includes an adjacent 50-acre land parcel located at the intersection of The Garden State Parkway and Blackhorse Pike. The financing is for a 36-month term and carries an adjustable interest rate. The transaction was originated by John Taylor and Jim Cardranell with the New Jersey office of Holliday Fenoglio Fowler. The lender was Oritani Savings Bank, which was represented by David Garcia.

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