{"id":326069,"date":"2026-08-20T19:46:08","date_gmt":"2026-08-20T19:46:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/326069\/"},"modified":"2026-08-20T19:46:08","modified_gmt":"2026-08-20T19:46:08","slug":"principal-financial-group-loans-32m-to-refi-queens-shopping-center-commercial-observer","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/326069\/","title":{"rendered":"Principal Financial Group Loans $32M to Refi Queens Shopping Center \u2013 Commercial Observer"},"content":{"rendered":"<p>An affiliate of <a href=\"https:\/\/commercialobserver.com\/company\/mattone-investors\/\" title=\"Mattone Investors\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">Mattone Investors<\/a> secured $32 million to refinance Springnex Plaza, a 96,028-square-foot shopping center anchored by a Stop &amp; Shop supermarket in the Queens neighborhood of Springfield Gardens.<\/p>\n<p><a href=\"https:\/\/commercialobserver.com\/company\/principal-financial-group\/\" title=\"Principal Financial Group\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">Principal Financial Group<\/a> provided the debt, while <a href=\"https:\/\/commercialobserver.com\/company\/northmarq\/\" title=\"Northmarq\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">Northmarq<\/a>\u2019s Robert Delitsky and Charles Cotsalas arranged the transaction.\u00a0<\/p>\n<p>SEE ALSO: <a href=\"https:\/\/commercialobserver.com\/2026\/08\/affinius-capital-new-jersey-yonkers-apartments\/\" rel=\"nofollow noopener\" target=\"_blank\">Affinius Capital Lends $177M for Multifamily Asset Buy in New Jersey, Yonkers<\/a><\/p>\n<p>Delitsky noted in a statement that Mattone Investors first developed Springnex Plaza six years ago and \u201chave done a fabulous job maintaining very strong occupancy\u201d since then.\u00a0<\/p>\n<p>\u201cSupermarket-anchored shopping centers like Springnex Plaza will continue to attract very strong lender interest in today\u2019s market,\u201d Cotsalas added in the same statement.<\/p>\n<p>Located at 134-40 Springfield Boulevard, Springnex Plaza sits on 5.58 acres of land and is 100 percent occupied. Besides Stop &amp; Shop, tenants include an IHOP, fashion retailer Ashley Stewart and Northwell Health GoHealth Urgent Care.\u00a0<\/p>\n<p>Brian Pascus can be reached at <a href=\"https:\/\/commercialobserver.com\/2026\/08\/principal-financial-group-32m-refi-queens-springnex-plaza\/mailto:bpascus@commercialobserver.com\" rel=\"nofollow noopener\" target=\"_blank\">bpascus@commercialobserver.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"An affiliate of Mattone Investors secured $32 million to refinance Springnex Plaza, a 96,028-square-foot shopping center anchored by&hellip;\n","protected":false},"author":2,"featured_media":326070,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[122724,122725,122726,9,24,63,122,124,123,122727,122728],"class_list":["post-326069","post","type-post","status-publish","format-standard","has-post-thumbnail","category-queens","tag-134-40-springfield-boulevard","tag-charles-cotsalas","tag-mattone-investors","tag-new-york","tag-new-york-city","tag-nyc","tag-queens","tag-queens-headlines","tag-queens-news","tag-robert-delitsky","tag-springnex-plaza"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/326069","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=326069"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/326069\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/326070"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=326069"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=326069"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=326069"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}