CRONHEIM MORTGAGE ARRANGES $10 MILLION LOAN FOR SHOPPING CENTER

by admin

MIDDLETOWN, CONN. — Cronheim Mortgage has arranged a $10 million permanent loan for Middletown Plaza Shopping Center on Washington Street in Middletown. Big Lots, Petco, Staples, Dress Barn, RadioShack, GNC and Workout World occupy the 149,981-square-foot property. The 10-year financing was secured with a bank, which offered a 10-year fixed rate, flexible prepayment and some first-year interest-only terms. David Turley and Janet Proscia of Cronheim Mortgage secured the financing for the borrower.

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