HFF ARRANGES $23.8M ACQUISITION LOAN FOR SEVEN-PROPERTY RETAIL PORTFOLIO
LAKEWOOD, N.J. — An affiliate of Lakewood-based Paramount Realty Services has received $23.8 million in acquisition financing for a seven-property retail portfolio totaling 99,675 square feet in Maryland, New Jersey and Pennsylvania. HFF arranged the seven-year, fixed-rate loan through Investors Bank. The portfolio includes Bricktown Center in Bricktown, N.J.; Brookhaven Plaza in Brookhaven, Pa.; Howell Plaza in Howell, N.J.; Sea Grit Plaza in Wall, N.J.; Philadelphia Plaza in Philadelphia; Exton Plaza in Exton, Pa.; and Owings Mills Plaza in Owings Mills, Md. At closing, the portfolio was 100 percent occupied by a variety of tenants, including Best Buy, Staples, WaWa, Jos. A. Bank, CVS/pharmacy and Santander Bank. Jon Mikula and Jim Cadranell of HFF represented the buyer in the transaction.