iBorrow, a leading private direct lender for commercial real estate projects across the nation, has successfully funded a $5.14 million loan to support the purchase of a 41,000-square-foot industrial property in Medford, New York.
According to iBorrow CEO Brian Good, it is crucial for investors and sellers to have access to reliable and transparent financing options as traditional banks remain hesitant in providing loans. This allows them to continue with their business plans or achieve liquidity within their desired timeline.
The recently acquired industrial facility boasts impressive features such as one loading dock, five drive-in doors and 22′ clearance heights. It is situated on a spacious 3.11-acre lot in an area with only 2.6% vacancy rate – making it an attractive investment opportunity.
With this new funding from iBorrow, the sponsors can make necessary improvements on the property and start leasing at competitive market rates without any delays or setbacks.
