CRONHEIM MORTGAGE SECURES $11 MILLION RETAIL/OFFICE LOAN

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BASKING RIDGE, N.J. — Chatham, N.J.-based David Cronheim Mortgage Corp. has secured $11 million in financing for 100 Marketplace, a retail/office lifestyle center located on Mountainview Boulevard in Basking Ridge. The property was completed in 2008 and was 97 percent leased at the time of closing. Major retail tenants include Wachovia, Panera Bread and Origins Restaurant. In addition, a medical day spa has leased 12,000 square feet of the property’s second floor. Cronheim Mortgage’s Andrew Stewart and Dev Morris originated the loan, which includes a 15-year term with a 30-year amortization schedule. The borrower and lender were not disclosed.

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