Bridge Financing

in

Long Island City, NY

$11,800,000
Bridge loan in Long Island City, NY
January 6, 2021
Overview

The $11.8 million bridge loan was used to re-finance one of the sponsor’s existing portfolio assets to retire existing debt and provide cash-out to fund business growth opportunities.

While the asset was positively cash flowing, the property had some vacancy and the sponsor’s non-real estate business occupied significant space alongside a unique mix of tenants.

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