HFF ARRANGES $22M LOAN FOR CHESTER SPRINGS SHOPPING CENTER
CHESTER, N.J. — HFF has arranged a $22 million loan on behalf of Heitman and Ramco-Gershenson Properties Trust for a 223,068-square-foot, grocery-anchored shopping center in Chester. A national bank provided the three-year loan, which includes a floating interest rate. Situated on approximately 20.4 acres, Chester Springs Shopping Center is located at the intersection of U.S. Highway 206 and Maple Avenue. The retail property is 96.6 percent leased and is anchored by ShopRite. Other tenants includes Marshalls, Staples and CVS/pharmacy. Eric Tupler and Jon Mikula, senior managing directors, and Kristian Lichtenfels and Michael Cerulo, real estate analysts, led the HFF team representing the borrower.