JERICHO, NY (June 11 2015) – ACRES Capital, LLC (“ACRES”) announces the funding of a note purchase loan secured by two industrial buildings on 206 & 208 Route 109, Farmingdale, NY.
The Sponsor used the loan proceeds to purchase the loan from a local bank. The 206 building is a single-tenant building containing 10,014± SF. The 208 building is an improved two-story, plus partially finished basement, multi-tenant office/warehouse building containing 34,151± SF. The 208 building is 93% leased and occupied.
ABOUT ACRES CAPITAL
ACRES Capital is a direct lender operating on a nationwide platform. The company seeks opportunities in the $3 million to $30 million range on stabilized or distressed properties including Multifamily, Retail, Office, Hospitality, Industrial and New Construction. For more information please visit www.acrescap.com.