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Posted: July 11, 2023
Rhine Legacy Capital secures $6.8875 million bridge loan for industrial asset
Newburgh, NY Rhine Legacy Capital, a leading commercial real estate private lender, has successfully secured a bridge loan of $6.8875 million for the acquisition of a prominent industrial asset. The property, located at 392 North Montgomery St. has potential in both its existing infrastructure and surrounding land.
The industrial asset, currently 90% occupied with long-term tenants, represents a lucrative investment opportunity in a sought-after location. This property offers access to key transportation routes, making it an ideal hub for businesses operating in the area. Additionally, the property's proximity to distribution hubs enhances its value and market appeal.
The bridge loan, which features a floating interest rate based on prime + 4%, was financed by Rhine Legacy Capital. This financing arrangement provides the buyer with the necessary capital to complete the acquisition and leverage the property's potential for future growth and expansion.
"We are thrilled to have secured this bridge loan for the acquisition of such a promising industrial asset," said Samuel Kwadrat, managing partner of Rhine Legacy Capital. "The property's high occupancy rate and its strategic location make it an exceptional addition to our portfolio. We are confident in the tremendous potential this investment holds."
This latest transaction not only reinforces their position as a market leader but also exemplifies their track record of successful financing arrangements. With a steadfast commitment to delivering value to their investors, Rhine Legacy Capital consistently drives growth and fosters innovation within the real estate finance sector.
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