Description:

iCapital Options, a nationwide private direct lender for commercial real estate, announced the closing of a $17, 200,000 loan to finance the acquisition of a 43,000-square-foot industrial facility in Medford, NY. The financing process was tailored to meet the seller's need for liquidity and the sponsor's desire for a quick closing. The industrial facility, situated on a 3.11-acre parcel of land, includes one loading dock, five drive-in doors, and 22' clearance heights. It is located in a submarket with a strong 2.6% vacancy rate and offers convenient access to the Montauk Highway and Long Island Expressway, making it ideal for fulfillment and distribution functions. With the acquisition financing from iCapital Options, the sponsors will be able to make minor capex improvements to the facility and begin leasing it at market rental rates. The property has already attracted substantial interest from potential anchor tenants and others as it is being marketed for lease. iCapital Option is not just a lender but also a financial partner in realizing your real estate and business aspirations. With a commitment to your success, they offer a diverse range of funding options designed to cater to your unique needs and goals. Alexander Hoffman. (916) 836-1771 info@icapital-options.com 1545 River Park Dr, Sacramento, CA 95815 https://iCapital-Options.com