Regions Northeast
$20M Financing Deal in Place for Atlantic City Retail Property
Oct 10, 2008

Financing to the tune of $20 million has closed for English Creek Shopping Center, a 200,000-square-foot retail destination just seven miles from of Atlantic City, N.J. Acting on behalf of the borrower, David Cronheim Mortgage Corp. orchestrated the financing, which came in the form of a 10-year interest-only loan. Located within close proximity to Highway 40 and U.S. Route 322, English Creek is home to a long list of retailers including women's fashion accessories shop B. Fabulous and arts and crafts store A.C. Moore, which occupy approximately 33,400 square feet and 28,000 square feet, respectively. Additionally, Home Depot and Shop-Rite Supermarket serve as shadow anchors. Cronheim Mortgage has not disclosed the identity of the lender; however, the real estate services concern has correspondent and/or servicing relationships with 12 institutional investors, most of which are insurance companies. 

 
Recent Northeast Headlines
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