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Middletown, N.Y. — Cronheim Mortgage has arranged $75 million in financing for Orange Plaza, an 811,272-square-foot regional power center located in Middletown, about 55 miles northwest of New York City in the Hudson Valley region. Brandon Szwalbenest, Andrew Stewart, and Dev Morris of Cronheim Mortgage secured the financing through a life insurance company on behalf of the borrower, National Realty & Development Corp. The seven-year loan features a 30-year amortization schedule.
Orange Plaza was 94 percent occupied at the time of sale to tenants including Walmart, Home Depot, Kohl’s, Burlington, Ross Dress for Less, Marshalls, Staples and Old Navy.