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Burlington, N.J. — Cronheim Mortgage has facilitated a $31 million financing for Liberty Square Center, a 358,000-square-foot shopping center located in the Philadelphia suburb of Burlington. An affiliate of National Realty and Development Corp. is the borrower. The 10-year loan features a 30-year amortization period and a step-down prepayment structure. Brandon Szwalbenest, Dev Morris and Andrew Stewart of Cronheim secured the financing through a life insurance company on behalf of the borrower.
Liberty Square Center is anchored by a Walmart Supercenter. Additional tenants at the property, which was 99.5 percent leased at the time of financing, include Planet Fitness, Ross Dress For Less, Marshalls, Five Below, AutoZone and McDonald’s.