Pisanelli of U.S. Realty secures $1.54m refinance of 51,738 s/f facility

The Atlantic northeast office of U.S. Realty Capital brokered $1.54 million for the refinance of a single-tenant industrial facility located on 1276 Military Rd. The 51,738 s/f building has been 100% occupied by Colorite Plastics, a division of Tekni-Plex, Inc, since 1991. The loan was placed with a specialty finance company and carries a fixed-rate for 30 years even though the lease term expires in five years. Rob Pisanelli of U.S. 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 70% LTV. ? U.S. Realty is a national mortgage banking company with nine offices across the country. In 2007, U.S. Realty originated $1.4 billion of debt and equity for their clients.