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Cape May Court House, N.J. — Cronheim Mortgage has arranged $21 million in financing for the acquisition of The Plaza at Cape May Court House, a 163,629-square-foot shopping center located within Middle Township in Cape May County. Acme, which has operated at the property for 29 years, anchors the center. Built in 1971 and renovated in 2022, The Plaza at Cape May Court House is leased to 16 additional tenants including Starbucks Coffee, Staples, CVS/pharmacy, Jersey Mike’s Subs, Chase Bank and True Value Hardware.
Brandon Szwalbenest, Dev Morris and Andrew Stewart of Cronheim secured the fixed-rate, permanent loan through one of Cronheim’s life insurance companies on behalf of the borrower, New York-based Alpine Real Estate Partners.