Berkshires I Apartments on West Walnut Road in Vineland — Courtesy: Cronheim Mortgage
By Joshua Burd
The owner of a 100-unit garden apartment complex in Vineland has secured more than $4.5 million in financing, according to a debt placement team with Cronheim Mortgage.
In a news release, the firm said it represented Walnut Realty Associates LLC in sourcing the $4.565 million loan for Berkshires I Apartments, located on West Walnut Road. An undisclosed lender is providing the 10-year financing, which is an interest-only facility for the entire term.
Cronheim’s Allison Villamagna and Andrew Stewart completed the assignment. They noted that Berkshires I Apartments is made up of 13 two-story buildings between South Delsea Drive and South West Avenue.
The complex, which was built in 1970, sits on 8.3 acres.
