{"id":1004191661,"date":"2017-09-27T05:14:34","date_gmt":"2017-09-27T13:14:34","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004191661"},"modified":"2022-12-08T05:30:15","modified_gmt":"2022-12-08T13:30:15","slug":"nj-lifestyle-center-lands-44m-refi","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/nj-lifestyle-center-lands-44m-refi\/","title":{"rendered":"NJ Lifestyle Center Lands $44M Refi"},"content":{"rendered":"<p>By IvyLee Rosario<\/p>\n<div id=\"attachment_1004191665\" style=\"width: 347px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/The-Grove-at-Shrewsbury-.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004191665\" data-attachment-id=\"1004191665\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/nj-lifestyle-center-lands-44m-refi\/the-grove-at-shrewsbury\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/The-Grove-at-Shrewsbury-.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;4&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;Canon PowerShot SX500 IS&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1492748264&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;4.3&quot;,&quot;iso&quot;:&quot;100&quot;,&quot;shutter_speed&quot;:&quot;0.005&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"The Grove at Shrewsbury\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;The Grove at Shrewsbury&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/The-Grove-at-Shrewsbury-.jpg?w=800\" class=\"wp-image-1004191665\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/The-Grove-at-Shrewsbury-.jpg\" alt=\"The Grove at Shrewsbury\" width=\"337\" height=\"262\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/The-Grove-at-Shrewsbury-.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/The-Grove-at-Shrewsbury-.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/The-Grove-at-Shrewsbury-.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 337px) 100vw, 337px\" \/><\/a><p id=\"caption-attachment-1004191665\" class=\"wp-caption-text\">The Grove at Shrewsbury<\/p><\/div>\n<p>Federal Realty Investment Trust secured $43.6 million refinancing for The Grove at Shrewsbury, a fully leased lifestyle center in Shrewsbury, N.J.<\/p>\n<p>The 148,000-square-foot Grove at Shrewsbury features 35 high-end retailers and provides a town center shopping experience with walkways, outdoor seating, gardens and varied storefronts. Located at 597 Broad St., notable tenants include Williams-Sonoma, Bluemercury, Anthropology, Starbucks, Pottery Barn, Lululemon and Madewell.<\/p>\n<p><em>\u201cWhile retail financing is challenging, The Grove is a one-of-a-kind shopping destination in New Jersey operated by best-in-class sponsorship,\u201d<\/em>\u00a0Jon Mikula, senior managing director at HFF, said in prepared remarks.\u00a0<em>\u201cWe were excited to showcase it to the market.\u201d<\/em><\/p>\n<p>HFF&#8217;s debt placement team of Mikula and Associate Connor Milanaik arranged the 10-year, fixed-rate loan through Principal Commercial Capital.\u00a0<\/p>\n<p>In June, Federal Realty also had HFF secure\u00a0$125 million to refinance Plaza El Segundo, a 380,558-square-foot <a href=\"https:\/\/www.commercialsearch.com\/news\/greater-la-retail-center-lands-125m-refi\/\">retail center in El Segundo<\/a>, Calif.<\/p>\n<p><em>Image courtesy of HFF\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>HFF&#8217;s debt placement team arranged the 10-year, fixed-rate loan through Principal Commercial Capital. The Grove at Shrewsbury features 35 high-end tenants.<\/p>\n","protected":false},"author":746,"featured_media":1004191665,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,1600,21742,10,21749],"tags":[33957,32792,34060],"class_list":["post-1004191661","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-new-york","category-latest","category-northeast","category-retail","tag-federal-realty-investment-trust","tag-hff","tag-jon-mikula"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>NJ Lifestyle Center Lands $44M Refi - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/nj-lifestyle-center-lands-44m-refi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NJ Lifestyle Center Lands $44M Refi\" \/>\n<meta property=\"og:description\" content=\"HFF&#039;s debt placement team arranged the 10-year, fixed-rate loan through Principal Commercial Capital. The Grove at Shrewsbury features 35 high-end tenants.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/nj-lifestyle-center-lands-44m-refi\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-09-27T13:14:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T13:30:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/The-Grove-at-Shrewsbury-.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"IvyLee Rosario\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/nj-lifestyle-center-lands-44m-refi\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/nj-lifestyle-center-lands-44m-refi\/\",\"name\":\"NJ Lifestyle Center Lands $44M Refi - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/nj-lifestyle-center-lands-44m-refi\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/nj-lifestyle-center-lands-44m-refi\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/The-Grove-at-Shrewsbury-.jpg\",\"datePublished\":\"2017-09-27T13:14:34+00:00\",\"dateModified\":\"2022-12-08T13:30:15+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/f2094ece0e063845f848c7f1c7b84780\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/nj-lifestyle-center-lands-44m-refi\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/nj-lifestyle-center-lands-44m-refi\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/nj-lifestyle-center-lands-44m-refi\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/The-Grove-at-Shrewsbury-.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/The-Grove-at-Shrewsbury-.jpg\",\"width\":800,\"height\":620,\"caption\":\"The Grove at Shrewsbury\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/nj-lifestyle-center-lands-44m-refi\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"NJ Lifestyle Center Lands $44M Refi\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/f2094ece0e063845f848c7f1c7b84780\",\"name\":\"IvyLee Rosario\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/IvyLee_Rosario.jpg?w=67\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/IvyLee_Rosario.jpg?w=67\",\"caption\":\"IvyLee Rosario\"},\"description\":\"IvyLee Rosario is a Senior Associate Editor for Commercial Property Executive and Multi-Housing News. She has a background in Journalism and joined the team in 2016. She produces the MHN Daily newsletter, manages byline content, oversees the Research Center for both brands and hosts the Multifamily's Top Marketers podcast. 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