Regions Northeast
$20M Financing Deal in Place for Atlantic City Retail Property
Oct 10, 2008

Financing to the tune of $20 million has closed for English Creek Shopping Center, a 200,000-square-foot retail destination just seven miles from of Atlantic City, N.J. Acting on behalf of the borrower, David Cronheim Mortgage Corp. orchestrated the financing, which came in the form of a 10-year interest-only loan. Located within close proximity to Highway 40 and U.S. Route 322, English Creek is home to a long list of retailers including women's fashion accessories shop B. Fabulous and arts and crafts store A.C. Moore, which occupy approximately 33,400 square feet and 28,000 square feet, respectively. Additionally, Home Depot and Shop-Rite Supermarket serve as shadow anchors. Cronheim Mortgage has not disclosed the identity of the lender; however, the real estate services concern has correspondent and/or servicing relationships with 12 institutional investors, most of which are insurance companies. 

 
Recent Northeast Headlines
Developers Move Ahead with Plans for 60-Story NYC Tower
Nov. 21, 2008
Banking that the healthcare industry will stay healthy despite the tough economic times, developers are moving ahead with plans to build the World Product Centre, a 60-story tower on Manhattan’s West Side that would showcase medical diagnostic and device companies and serve as an international educational center.
Proposed $1B Philadelphia Skyscraper Gets Zoning Approvals, Awaits City OK
Nov. 21, 2008
The American Commerce Center, a $1 billion, mixed-use skyscraper proposed for 1800 Arch St., in Philadelphia’s Center City, moved another step closer to reality this week when the city’s planning commission unanimously approved zoning changes for the 1.5-acre site.
pier 57 NYC's Pier 57 Attracts Trio of Renovation Proposals
Nov. 21, 2008
At the edge of Manhattan’s Meat Packing District in Chelsea, Pier 57 abuts an area that has seen a burst of activity over the last decade. Located at the end of West 15th St. and encompassing some 375,000 square feet of waterfront space plus rooftop area, the pier is now the focus for three bids for renovation.
CBRE Promotes 4 to SVP
Nov. 18, 2008
CB Richard Ellis has promoted Sacha Zarba, Doug Lehman, Andrew Sussman and Bill Mooney to senior vice president.  They were previously first vice presidents.
Redevelopment Authority Approves 4 Boston Projects
Nov. 18, 2008
Boston Mayor Thomas Menino announced that four projects totaling more than $75 million in private investment have received approvals from the Boston redevelopment authority’s board of directors.