Mainardi Management closes four loans in New Jersey totaling $42.65 million

The Mainardi Management Co. has closed on four new loans totaling $42.65 million. The deals include: * A $19.3 million loan on the Shops at Windsor Green, a 157,000 s/f shopping center on Rte. 1 in Princeton. The 10-year fixed-note loan was with Aviva Life and Annuity Co. of Des Moines, Iowa. Andrew Stewart and Anna Westhoff of Cronheim Mortgage placed the loan with Aviva. * A $4.1 million mortgage on the Franklin Shopping Center, a 57,600 s/f property in Sussex County. The new loan was with Amalgamated Bank of N.Y. and was placed by Greg Nalbandian of Northmarq Capital. * A $7.5 million loan for Union Medical Park, a 200,000 s/f medical office building in Union which at one time operated as Union Hospital. The loan was obtained from Customers Bank of Wyomissing, Penn. and was negotiated by Stewart, Westhoff and Dev Morris of Cronheim Mortgage. *An $11.75 million mortgage on the Greentree Square Shopping Center, a 110,000 s/f shopping center in Marlton anchored by Whole Foods. The new loan was placed with Allstate Insurance Company and carried a fixed rate of 4.05% for ten years. Tom Didio and Mike Cerullo of Holliday Fenoglio Fowler obtained the mortgage. Net proceeds from the new loans will be used to renovate the properties and fund future acquisitions.