Cronheim Mortgage Secures $5 Million Refinancing for Retail Center in New Jersey

Springfield, N.J. — Cronheim Mortgage has secured a $5 million loan to refinance an 80,000-square-foot retail center in Springfield, New Jersey.

The seven-acre property was built in 1972 and renovated in 1995. Currently the center is fully occupied by Christmas Tree Shoppes. Cronheim secured the 15-year, fixed-rate loan on behalf of the undisclosed borrower. The lender was American United Life Insurance Co.