FLORHAM PARK, NJ – HFF announced that it has arranged an $11.75 million refinancing for Greentree Square (top left photo), a 110,296-square-foot, grocery-anchored shopping center in Marlton, New Jersey.
HFF worked exclusively on behalf of the borrower, Mainardi Management Company, to secure the 10-year, fixed-rate loan through Allstate Investments, LLC. The loan will be serviced by HFF and is replacing an existing first mortgage loan on the property also arranged by HFF.
Greentree Square is situated on a 12.6-acre site at the intersection of Greentree Road and Route 73 in Marlton, about 10 miles east of Center City Philadelphia. The 92 percent leased property is anchored by Whole Foods plus two pad sites occupied by TGI Friday’s and Citizen’s Bank.
The HFF team representing Mainardi Management Company was led by senior managing director Thomas Didio and senior real estate analyst Michael Cerulo.
“The property is an example of how aggressive lenders will get to originate low leverage retail loans in our market. Allstate secured a loan on a quality asset and we were pleased to arrange the debt for the Mainardi Family and Allstate,” said Didio.
The Mainardi Management Company is a family owned and operated commercial real estate investment, management and leasing firm located in Wayne, New Jersey. The firm, whose origins date back to 1929, currently manages approximately 1.25 million square feet of commercial space in the New York metropolitan area.
Contacts:
THOMAS R. DIDIO
HFF Senior Managing Director
(973) 549-2000
KRISTEN MURPHY
HFF Associate Director, Marketing
(713) 852-3500
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