Metropolitan Realty Associates LLC (MRA) has completed a refinancing of a last-mile distribution facility located at 456 Sullivan Ave. in South Windsor, Connecticut. The single-story industrial property totals 315,000 square feet and serves as a last-mile logistics asset.
The new loan, provided by Webster Bank, totals $33,200,000. Proceeds from the financing were used to retire the existing mortgage that had been held by Bank of America since MRA’s acquisition of the property. The transaction restructures the capital stack on the asset without changing ownership.
MRA is led by CEO and founder Joseph Farkas, who continues to oversee the firm’s industrial and logistics portfolio, including this South Windsor facility. The refinancing underscores ongoing lender interest in stabilized last-mile distribution properties in established logistics corridors.
The property’s single-story configuration and last-mile positioning align it with current distribution and e-commerce trends that favor large-format, well-located industrial facilities capable of supporting rapid delivery requirements. While specific lease terms, tenant information, and loan structure details were not disclosed, the size of the facility and the refinancing amount indicate a significant commitment of capital to the asset.
Webster Bank’s role as the new lender replaces Bank of America, which had financed the asset at the time of MRA’s original acquisition. No additional information was provided regarding the original purchase price, loan maturity, interest rate, or other financing terms.
The refinancing positions MRA to continue operating the 456 Sullivan Ave. facility as a last-mile distribution hub, with the updated debt structure potentially supporting long-term asset management, leasing, and capital planning strategies.
