The Pennsylvania-based financing and advisory company Prestige Group has actually set up $42 million for the refinancing of The Marketplace at Huntingdon Valley, a 259,000 sqft shopping mall situated at 2010 County Line Road.
“Our loan was ready to roll over so we just refinanced the existing loan. Our term limit was up,” an agent from The Marketplace said. “We’re doing great here. All of our businesses are performing well.”
According to REBusinessOnline.com, “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. The borrower was also not disclosed.”
From The Marketplace’s description:
The Marketplace at Huntingdon Valley is the home of more than 45 popular retailers, dining establishments and service facilities. Major anchor occupants consist of Weis Markets, Sears Hardware and LA Fitness. Other location merchants are Starbucks, Rite Aid, Fine Wine and Good Spirits, Hand and Stone Massage and Facial Spa, Dunkin’ Donuts, Pet Valu, GNC, Mandee, Hair Cuttery and Bertucci’s. The staying shops represent a varied mix of durable goods, personal and monetary services and dining establishments.
Earlier this month, Prestige Group set up a $20 million loan for the refinancing of an 81,500 sqft workplace and retail property in Jenkintown.
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Photos thanks to The Marketplace
