FLORHAM PARK—HFF has arranged an $11.75 million refinancing for Greentree Square, a 110,296-sq.-ft., grocery-anchored shopping center in Marlton.
HFF worked exclusively on behalf of the borrower, Mainardi Management Company, to secure the 10-year, fixed-rate loan through Allstate Investments, LLC. The loan will be serviced by HFF and is replacing an existing first mortgage loan on the property also arranged by HFF.
Greentree Square is situated on a 12.6-acre site at the intersection of Greentree Road and Route 73 in Marlton, about 10 miles east of Center City Philadelphia. The 92 percent- leased property is anchored by Whole Foods plus two pad sites occupied by TGI Friday’s and Citizen’s Bank.
The Mainardi Management Company is a family owned and operated commercial real estate investment, management and leasing firm located in Wayne, New Jersey. The firm, whose origins date back to 1929, currently manages approximately 1.25 million square feet of commercial space in the New York metropolitan area.