CRONHEIM REFINANCES TWO N.J. INDUSTRIAL BUILDINGS

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LINDEN, N.J. — Cronheim Mortgage has arranged $5 million in permanent financing for two adjacent industrial buildings located in Linden. The buildings total 267,446 square feet and are fully occupied, though none of the current leases extend past 3 years. The loan carries a 10-year term with a 4.95 percent interest rate and a 25-year amortization schedule. The Croheim team of David Turley, Anna Westhoff and Janet Proscia secured the loan on behalf of the undisclosed borrower through an insurance company.

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