Triangle Equities has successfully secured a $50 million first mortgage for its 425,000-square-foot industrial site located at 30-02 Whitestone Expressway in College Point, Queens. The funding was provided by Centennial Bank to replace existing debt and support pre-development efforts for a new multi-story industrial complex.
Leading the financing arrangements was the JLL Capital Markets team composed of Geoff Goldstein, Rob Hinckley, and Tyler Peck. According to Goldstein, this opportunity presented lenders with a rare chance to finance an as-of-right industrial development site with excellent access to major roadways in the area. He also mentioned that institutional long-term ownership plans aim to take advantage of the continued demand for modern logistics facilities in this region.
The article “Triangle Equities Lands $50M for Queens Logistics Facility” originally appeared on Connect CRE.
