Cronheim Mortgage Arranges $9M in Permanent Financing for Shopping Center in Quakertown, Pennsylvania

by Taylor Williams

QUAKERTOWN, PA. — New Jersey-based Cronheim Mortgage has arranged $9 million in permanent financing for a 210,000-square-foot shopping center in Quakertown, located north of Philadelphia in Bucks County. Anchored by grocer Giant, the unnamed center also houses tenants such as Rite Aid, Buffalo Wild Wings, H&R Block and Panera Bread. Allison Villamagna and Andrew Stewart of Cronheim Mortgage arranged the financing on behalf of the borrower, a subsidiary of New York City-based ADCO Group. An undisclosed life insurance company provided the loan.

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