Arrow Real Estate Advisors has arranged a $16,500,000 bridge loan for a stabilized retail shopping center located at 352 Ryders Lane in East Brunswick, N.J. The financing was secured on behalf of Shushana Co. through Amboy Bank, a relationship-driven community lender active throughout New Jersey.
The transaction was arranged by Arrow Real Estate Advisors’ Morris Betesh, founder and managing partner, Morris Dabbah, senior vice president, and Louis Halperin, Associate.
“We executed a transitional refinancing with Amboy Bank, a lender who recognized the importance of the tenant realignments and the broader objective of preparing the adjoining parcel for upcoming residential development,” Betesh said.
The 89,298-square-foot retail center spans three buildings and features 472 parking spaces, prominent pylon signage and strong visibility via two signalized intersections with left-turning lanes providing direct access off the main road. The property features a diverse tenant roster anchored by local businesses alongside nationally recognized brands such as Applebee’s, Domino’s, Dollar Tree, Blinds-to-Go, Hallmark, Cold Stone Creamery, AFC Urgent Care and Urban Air Adventure Park. The center is shadow-anchored by Target and Home Depot.
The sponsor, who has owned the property since 1998, sought to refinance two of the property’s three tax parcels as part of a broader plan to redevelop the adjacent lot into a 190-unit multifamily project slated for 2026, with all approvals already secured.
As part of the repositioning strategy, five tenants from the future development site, are being relocated into vacant or reconfigured space within the subject property. Upon completion of the relocations, the retail center will boast 97% occupancy.
One of the primary challenges was removing a tax parcel from the loan collateral while accurately underwriting the stabilized income of the remaining two parcels. Arrow identified a lender that not only understood the asset and its future potential but also recognized the value of gaining an early relationship ahead of the
