NEW JERSEY POWER CENTER REFINANCED FOR $34 MILLION

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DEPTFORD, N.J. — Arrow Retail has procured a $34.02 million loan for the refinancing of a power center located in Deptford. Deptford Landing is a 490,910-square-foot property located at 2000 Clements Bridge Road. Completed in 2007, the center is anchored by Walmart, Sam's Wholesale Club, PetSmart, hhgregg and Michaels. Occupancy was 97 percent at the time of the closing. The financing carries a 10-year term and a fixed interest rate. Bank of America Merrill Lynch was the lender. Trey Morsbach of the Dallas office of Holliday Fenoglio Fowler arranged the loan.

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