The Atlantic Northeast office of U.S. Realty Capital recently successfully brokered a $1.75 million land loan. The loan was secured by 10.4 acres of land on Rte. 300. The national commercial real estate financing firm coordinated the funding on behalf of a long-time client who will develop the land into a retail shopping center within the next two years.
The loan was placed with a regional bank at a floating rate of LIBOR +3.50%, 60% loan-to-value and a 24-month term. Rob Pisanelli of U.S. Realty Capital structured the deal on behalf of the borrower.
U.S. Realty Capital is a national mortgage banking company with nine offices across the country. Providing creative capital solutions for commercial real estate owners and developers throughout the U.S. In 2008 U.S. Realty Capital originated $1 billion of debt and equity for their clients. Through their collective knowledge and industry experience, U.S. Realty Capital provides comprehensive project analysis and competitive solutions for the unique needs of each client and project. Tags: