Freeport Industrial
Short Term Capital has funded a $1.2 million acquisition loan secured by a single story industrial building located in Freeport, NY.
The 8,538 sf property consists of a single unit located on a 0.18 acre lot.
The borrower purchased the building in order to expand his growing HVAC business. Although he would have qualified for traditional bank financing, there was a very short time frame to close due to his 1031 exchange.
“The direct lending business is getting busier as the financing markets are changing at a very rapid pace. We are here to get deals done as a direct lender or brokers depending on the needs of our clients,” said Short Term Capital’s finance director Mary Guarino.
- $1,200,000Amount
- Freeport, NYPlace
- November 2022Year
- Acquisition LoanType
