Colonie, NY Axiom Capital Corp. has structured and arranged a $8.6 million permanent loan (five year with five-year extension option, fixed rate, non-recourse) for the refinance of a retail plaza located in the Latham area of town.
The property consists of 107,245 s/f of retail, with some office space, in nine separate buildings situated on 15.77 acres.
The plaza is situated along Loudon Rd., a commercial/primary retail corridor, with traffic of more than 20,000 vehicles per day. The property is situated as it pertains to the area’s largest demand drivers including Siena College and residential neighborhoods that are some of the most expensive in the Capital Region. In 2021, the population within a three-mile radius of Newton Plaza was 58,130 with an average household income of $113,499.
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