HFF arranged a $22 million financing for Chester Springs Shopping Center, a 223,068 s/f, grocery-anchored shopping center in Chester, New Jersey.
Working on behalf of Heitman and Ramco-Gershenson Properties Trust, HFF placed the three-year loan with a national bank, at a floating interest rate of LIBOR plus 175 basis points.
Situated on approximately 20.4 acres, Chester Springs is 96.6 percent leased and is anchored by ShopRite.
The HFF team representing the borrower was led by senior managing directors Eric Tupler and Jon Mikula and real estate analysts Kristian Lichtenfels and Michael Cerulo.
