Colonie, NY Axiom Capital Corp. has structured and arranged a $16 million permanent loan for the refinance of a 302,914 rentable s/f, multi-building industrial portfolio located in Albany County.
The property consists of 16 industrial/flex buildings all within the same business park. The property is located in the Capital Region, with access to the I-87 and I-90.
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,