Smithtown, NY ERG Commercial Real Estate secured a $1.9 million acquisition loan for a neighborhood retail strip center located at 60 Terry Rd. The property, spanning 11,500 s/f, serves as a commercial hub in the community, offering convenient access to a variety of shops and services. The financing was provided by a community-focused bank institution, highlighting the strength of this local investment opportunity.
ERG Commercial Real Estate leveraged its expertise to structure this acquisition loan, ensuring a smooth transaction that supports the continued growth and stability of this neighborhood asset.
“We’re proud to have arranged this $1.9 million loan, which reinforces our dedication to facilitating impactful real estate deals,” said Matthew Murphy, director of commercial finance at ERG Real Estate. “Partnering with a community-focused lender allowed us to align this financing with the needs of both the borrower and the local area.”
The lender, a community-oriented bank, specializes in supporting regional development through tailored financial solutions. This acquisition loan marks a significant step in preserving and enhancing the value of the town’s retail landscape.
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