News

PRS gets $23.8 million acquisition financing for 7 properties

08/15/2014

HFF has arranged $23.8 million in acquisition financing for a seven-property retail portfolio totaling 99,675 square feet in Maryland, New Jersey and Pennsylvania for an affiliate of Paramount Realty Services, Inc. 

The properties included in the financing are:

·       Bricktown Center in Brick, New Jersey

·       Howell Plaza in Howell, New Jersey

·       Sea Girt Plaza in Wall, New Jersey

·       Philadelphia Plaza in Philadelphia, Pennsylvania

·       Brookhaven Plaza in Brookhaven, Pennsylvania

·       Exton Plaza in Exton, Pennsylvania

·       Owings Mills Plaza in Owings Mills, Maryland.

The portfolio is 100% occupied by tenants including Best Buy, Staples, 3 full-service WAWA Convenience stores, JoS. A. Bank, CVS and Santander Bank.

Paramount Realty Services, Inc. was founded in 1994 as a full-service commercial real estate firm specializing in retail real estate in the Northeast. Paramount Realty owns and operates more than five million square feet of shopping centers throughout New Jersey, Connecticut, Massachusetts, Maryland and eastern Pennsylvania.

Follow Paramount on Twitter at twitter.com/PRS_NJ.