Axiom Capital closes two loans totaling $18.747 million–includes financing for Utica College student housing complex

Utica, NY According to Axiom Capital Corp., it has closed two loans totaling $18.747 million.

• Axiom closed a $10.547 million construction to permanent loan for the financing of a 145-bed student housing complex for Utica College. Utica College is a private higher education institution on 128 acres in Central New York. With record high enrollment and transfer rates caused by the recent tuition reduction, the college is fulfilling the need for more on-campus housing with this project. The college offers 38 undergraduate majors, 31 minors, 21 graduate programs (including masters, doctoral and graduate certificate programs) on-campus and online, numerous pre- professional and special programs, and study abroad opportunities. 

• Axiom closed an $8.2 millionconstruction to permanent loan for a 53,897 s/f medical office and surgery center in Colonie. The building has access to I-90 and Albany Shaker Rd. The surgery center will be a collaborative effort between OrthoNY, Albany ENT, and St. Peter’s Hospital. The surgery center will provide hip, knee, back, ankle/foot, leg, hand and shoulder surgical operations to patients of OrthoNY as well as tonsils, adenoids and eardrum surgical operations to patients of Albany ENT.