REBusinessOnline

Houlihan-Parnes Arranges $17M Refinancing for Independence Plaza in Central New Jersey

Regal Cinemas at 2465 South Broad Street in Hamilton

HAMILTON, N.J. — Houlihan Parnes Realtors has arranged a $17 million refinancing for Independence Plaza, a shopping center in Hamilton. Located at 2465 South Broad St., the center is currently 75 percent occupied with a tenant roster that includes Regal Cinemas, Crunch Fitness, Save-a-lot, and Dollar Tree. The property is owned jointly by members of the Jemal and Houlihan families, of JJ Operating Inc. and Houlihan-Parnes Realtors, LLC. The property was recently appraised for $28.5 million, according to Houlihan Parnes.  Houlihan Parnes secured a fixed-rate loan for the borrower for a term of five years with the option for ownership to extend for an additional five years. The lender was not disclosed.

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