Prestige Group Arranges $42 Million Refinancing of Shopping Center Near Philadelphia

by Hayden Spiess

Huntingdon Valley, Pa. —Prestige Group has arranged $42 million for the refinancing of The Marketplace at Huntingdon Valley, a 259,000-square-foot shopping center located on the northwestern outskirts of Philadelphia. Weis Markets and LA Fitness anchor the center, which was built on 49 acres in 1993. Other tenants include Starbucks Coffee, Fine Wine & Good Spirits, Bertucci’s, Rite Aid, Dunkin’ GNC and Hair Cuttery. Bob Cohen of Prestige Group arranged the financing, which consisted of a $25 million senior loan and a $17 million junior loan, through two undisclosed regional banks on behalf of the undisclosed borrower.

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