BERKADIA ARRANGES $16.25 MILLION REFINANCING OF PHILLY SHOPPING CENTER

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PHILADELPHIA — Berkadia Commercial Mortgage has originated $16.25 million in fixed-rate funds for the refinancing of a Philadelphia retail center. Whitman Plaza is a 279,000-square-foot property located at the intersection of Oregon Avenue and Randolph Street. Anchors include Pathmark and Kmart. Additional tenants include Fashion Bug, Payless Shoesource, Radio Shack and Party City. David Fishler of Berkadia's New York City office secured the loan on behalf of the borrower, an affiliate of Breslin Realty Development, which developed the property 25 years ago. The lender was Long Island, N.Y.-based Bethpage Federal Credit Union.

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