iBorrow, a leading private direct lender for commercial real estate across the nation, recently closed a $5.14 million loan to fund the purchase of a 41,000-square-foot industrial property in Medford, New York. According to CEO Brian Good, iBorrow recognizes that investors and sellers cannot afford to halt their real estate transactions while traditional banks remain inactive. As such, iBorrow offers reliable and transparent financing options that enable clients to stay on track with their business plans or achieve timely liquidity.
The industrial facility boasts one loading dock and five drive-in doors with clearance heights of 22 feet. It is situated on a 3.11-acre parcel in an area where vacancy rates are low at just 2.6%. The loan provided by iBorrow will allow the sponsors of this project to make necessary improvements and begin leasing it at competitive market rental rates.
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