Franklin Square Retail
Short Term Capital has purchased a $3.9 million non-performing note from the lender of a commercial property owner.
The 16,907 sf property is a one-story commercial building built in 1951.
“Although our primary purpose is to originate loans in the greater New York area, we purchase non-performing mortgages with the intent to restructure giving the borrower a lifeline,” said Short Term Capital’s finance director Mary Guarino. “For us, it’s a way to back into lending and increase our portfolio.”
- $3,900,000Amount
- Franklin Square, NYPlace
- March 2023Year
- Non-Performing LoanType
