Kelly and Pisanelli of US Realty Capital broker $9 million permanent mortgage for 27,000 s/f Ransley Square in Fishkill

A $9 million permanent mortgage has been successfully brokered for Ransley Square by US Realty Capital's Atlantic Northeast office. The loan was placed with a competitive CMBS lender who out-bid many of the top CMBS issuers to win the deal. Consisting of a ten-year term, 3 years interest only and then amortized over 30 years, the loan carried an interest rate of 5.49%. Kevin Kelly and Rob Pisanelli of US Realty Capital negotiated the deal and worked with a national appraising firm to coordinate the receipt of an acceptable appraisal with an aggressive cap rate. The loan, which was not constrained by loan-to-cost, was sized at a 75% as-is loan-to-value and 70% as-stabilized. The 27,000 s/f retail plaza is comprised of a main building with six inline units and two pad sites. Tenants include JP Morgan Chase, Verizon Wireless, Panera Bread, Starbucks, Sleepy's and Countrywide. Ransley Square is located near the intersection of I-84 and Rte. 9, the main thoroughfare and commercial corridor in Dutchess County. The plaza is directly in front of the Gap/Old Navy distribution center and shares a traffic signal with Wal-Mart, Sam's Club and a variety of other retail, office, and commercial properties. US Realty Capital is a national mortgage banking company with eight offices across the country. Providing creative capital solutions for commercial real estate owners and developers throughout the United States in 2006, they originated over $1.2 billion of debt and equity for their clients. Through their collective knowledge and industry experience, US Realty Capital provides comprehensive project analysis and competitive solutions for the unique needs of each client and project.