Cronheim Mortgage Arranges $9M Refinancing of Two New England Shopping Centers

by Taylor Williams

DERBY, VT. AND WALLINGFORD, CONN. — New Jersey-based financial intermediary Cronheim Mortgage has arranged the $9 million refinancing of two New England shopping centers. The first property is Shaw’s Plaza, an 80,193-square-foot, grocery-anchored center in Derby, Vt., that was originally built in 1968. The second property is Kohl’s Plaza, a 159,600-square-foot shopping center in Wallingford, Conn., that is also home to Aldi, Harbor Freight and Sally Beauty. Brandon Szwalbenst, Dev Morris and Andrew Stewart of Cronheim arranged the debt on behalf of the owner, National Realty & Development Corp. The direct lender was not disclosed.

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