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| Jon Mikula |
FLORHAM PARK, NJ – HFF announced it has arranged $23.8
million in acquisition financing for a seven-property retail portfolio totaling
99,675 square feet in Maryland, New Jersey and Pennsylvania.
Working exclusively on behalf of an affiliate of Lakewood, NJ-based
Paramount Realty Services, Inc., HFF secured the seven-year, fixed- rate loan
through Investors Bank.
The properties included in the financing are: Bricktown
Center in Bricktown, New Jersey; Brookhaven Plaza in Brookhaven, Pennsylvania;
Howell Plaza in Howell, New Jersey; Sea Girt Plaza in Wall, New Jersey;
Philadelphia Plaza in Philadelphia, Pennsylvania; Exton Plaza in Exton,
Pennsylvania and Owings Mills Plaza in Owings Mills, Maryland.
The portfolio was 100 percent occupied at
closing by tenants including Best Buy, Staples, three full-service WAWA
Convenience stores, JoS. A. Bank, CVS and Santander Bank.
The HFF team representing the buyer was led by senior
managing director Jon Mikula and managing director Jim Cadranell.
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| Jim Cadranell |
Paramount Realty Services, Inc. was founded in 1994 as a
full-service commercial real estate firm specializing in retail real estate in
the Northeast.
Paramount Realty owns and operates more than five million square
feet of shopping centers throughout New Jersey, Connecticut, Massachusetts,
Maryland and eastern Pennsylvania.
For a complete copy of the company’s news release, please
contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell:
617-543-4873 | www.hfflp.com
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