CBRE Debt & Structured Finance (DSF) announced today that it sourced $14.1 million in financing to facilitate the acquisition of Towne Square Shopping Center—an 88,265 square-foot retail center located at 872 Union Mill Road in Mount Laurel, New Jersey.

CBRE DSF team members Thomas Gorman and Steven Doherty represented The Westover Companiesduring the transaction

Gorman says, “The combination of an exceptional borrower and high-performing grocery anchored property enabled us to generate nearly a dozen debt proposals from national lenders. As a result, our client could choose the loan structure and lender that best suited their business plan for the asset.”

Built in 1996, Towne Square Shopping Center is the retail centerpiece to a master-planned 55+ residential community of over 1,700 single family homes within affluent Mount Laurel Township. The center, which was 94percent occupied at the time of closing, has been anchored by a ShopRite Supermarket since 2007, which underwent a major remodel of their 64,165 square foot store in the 3rd quarter of 2016.

CBRE team members Brad Nathanson, Adam Rosenzweig and John Colussi arranged the sale of Towne Square. They represented the seller, The Hampshire Companies, and identified the buyer, The Westover Companies.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.us.