$6.5M Bank Loan for Smithville Square, in Galloway, NJ

P3RE Properties borrowed $6.5 million from Atlantic Stewardship Bank to refinace its Smithville Square, a retail setting in Galloway, NJ.

“P3RE Properties did a fantastic job of completely renovating and reintroducing the shopping center. The property has successfully been leased up with a mix of regional and national credits, and lenders recognized this,” said John Alascio, executive director for Cushman & Wakefield, who with Sridhar Vankayala, represented the Sponsor in the transaction.

Smithville Square is a recently renovated, 107,000-square-foot retail center at 45 South New York Rd., less than a mile from the historic Smithville downtown in Galloway.

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