URSTADT BIDDLE SECURES $17.8 MILLION IN MORTGAGE FINANCING

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OSSINING, N.Y. — Urstadt Biddle Properties has secured $17.8 million in financing for the Arcadian Shopping Center in Ossining. The loan has a 10-year term with payments based on a 25-year amortization period at a fixed interest rate of 6.66 percent per annum. The mortgagee is New Alliance Bank. The Arcadian Shopping Center is a 178,000-square-foot shopping center anchored by a newly constructed 76,000-square-foot Super Stop and Shop.

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