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Cronheim Mortgage Secures $10M Financing Loan for Retail Center in Newark, New Jersey

seabra-newark-nj

Seabra Supermarket anchors the Ferry Plaza retail center.

NEWARK, N.J. — Cronheim Mortgage has arranged a $10 million financing loan for Ferry Plaza, a retail center in Newark. One America provided the loan, which carried a10-year term and a 22-year amortization schedule. Seabra Supermarket anchors the 63,433-square-foot retail center, which also houses a post office, bank and several other retailers and restaurants. Cronheim arranged the loan on behalf of the borrower, an entity affiliated with Urstadt Biddle Properties Inc.

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