Real Estate Weekly
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Debt & Equity

Cronheim secures $50.5M for Pennsylvania retail center

Cronheim Mortgage has secured $50.5 million in financing for Northampton Crossings, a 622,000 s/f retail center in Easton, Pennsylvania.

Photo courtesy of Flickr
Photo courtesy of Flickr

The loan was structured with a 15-year fixed-rate which was locked 11 months prior to closing. American General Life Insurance, Variable Annuity Life Insurance Company, National Union Fire Insurance Company of Pittsburgh, Pa., and American Home Assurance – whom Cronheim represents as correspondent and servicing agent – funded the loan,. The loan was originated and placed by Andrew Stewart, Dev Morris, and Andrew Tsukamoto.

Northampton Crossings was constructed in 1995 and is anchored by a Walmart and Regal Cinemas. It is managed by National Realty and Development Corp.

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