Cronheim Mortgage Arranges $24M Permanent Loan for Shopping Center in Avon, Connecticut

by Taylor Williams

AVON, CONN. — New Jersey-based Cronheim Mortgage has arranged a $24 million permanent loan for Avon Marketplace, a 78,687-square-foot shopping center located on the western outskirts of Hartford. The center was built on 17.3 acres in 1994 and is home to tenants such as ULTA Beauty, Athleta, LensCrafters, GAP Factory, New Balance, Starbucks and Verizon Wireless. Dev Morris, Andrew Stewart and Allison Villamagna of Cronheim arranged the loan, which carried two years of interest-only payments and a 25-year amortization schedule. The borrower and direct lender were not disclosed.

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