NEW JERSEY—CBRE New Jersey’s debt and equity finance group has secured a $36 million loan for Festival Plaza, a repositioned grocery store-anchored retail center. James Gunning and Donna Falzarano of CBRE secured the loan for the plaza, which is anchored by H Mart.
The transaction refinanced an acquisition and construction loan for the property, which is located at 1711-1783 Route 27 in Edison, N.J. The financing was secured through Capital One.
Festival Plaza contains 151,429 sq. ft. and is situated in an area that receives heavy traffic of more than 100,000 vehicles passing through on a daily basis.