{"id":1004193504,"date":"2017-10-11T06:28:31","date_gmt":"2017-10-11T14:28:31","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004193504"},"modified":"2021-05-15T02:17:19","modified_gmt":"2021-05-15T10:17:19","slug":"new-york-life-secures-nj-retail-financing","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/new-york-life-secures-nj-retail-financing\/","title":{"rendered":"New York Life Secures NJ Retail Refi"},"content":{"rendered":"<p>By Corina Stef<\/p>\n<div id=\"attachment_1004193505\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/closter.png\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004193505\" data-attachment-id=\"1004193505\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/new-york-life-secures-nj-retail-financing\/closter\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/closter.png\" data-orig-size=\"863,647\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Closter Plaza, Closter, N.J.\" data-image-description=\"&lt;p&gt;Closter Plaza, Closter, N.J.&lt;\/p&gt;\n\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/closter.png?w=863\" loading=\"lazy\" class=\"wp-image-1004193505 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/closter.png\" alt=\"Closter Plaza, Closter, N.J.\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/closter.png 863w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/closter.png?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/closter.png?resize=768,576 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004193505\" class=\"wp-caption-text\">Closter Plaza, Closter, N.J.<\/p><\/div>\n<p>New York Life Real Estate Investors secured a five-year, fixed-rate loan to refinance Closter Plaza, a 208,337-square-foot shopping center in Closter, N.J. The property is owned by Edens Investment Trust.<\/p>\n<p>Located at 19 VerValen St., the retail center was built in 1960 and went through a complete redevelopment\u00a0 in 2016, which includes an improved design, renewed gathering places and a curated merchandising mix. The Whole Foods and Target-anchored shopping center is leased to a diverse roster of tenants, including HomeGoods, Cinemex, Rudy\u2019s Ristorante and Pizza, Chipotle, Bareburger, Starbucks, Ruby &amp; Jenna, Indigo Chic and CycleBar, to name a few.<\/p>\n<p>Closter Plaza is the only shopping destination\u00a0within\u00a0a 5-mile radius. Neighborhood amenities include the Closter Golf Center, schools and parks. It is easily accessible via the Palisades Interstate Parkway\u00a0and is less than 20 miles from Manhattan.<\/p>\n<p>\u201c<em>Closter Plaza is located within a highly desirable retail location with extremely high barriers to entry and boasts a top-tier tenancy that will generate stable cash flow during the loan term,<\/em>\u201d said David Li, senior director in New York Life Real Estate Investors&#8217; Northeast regional office, in a prepared statement.<\/p>\n<p>Farther south, another <a href=\"https:\/\/www.commercialsearch.com\/news\/nj-lifestyle-center-lands-44m-refi\/\">New Jersey retail center<\/a> secured a $43.6 million refinancing, arranged by HFF.<\/p>\n<p><em>Image courtesy of\u00a0Edens Investment Trust<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>EDENS&#8217; 208,337-square-foot Closter Plaza in Closter, N.J., is home to big names such as Whole Foods and Target, and is the only shopping center within a 5-mile radius. <\/p>\n","protected":false},"author":241,"featured_media":1004193505,"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":[32850,33542,34545,33004],"class_list":["post-1004193504","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-new-york","category-latest","category-northeast","category-retail","tag-edens","tag-new-york-life-real-estate-investors","tag-target-corporation","tag-whole-foods-market"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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