Lee Kleinman Arranges $6.3M Acquisition Loan For Lancaster Industrial Property

The industrial property at 44 West Avenue H-6 in Lancaster, spanning 47,327 square feet and situated on 11.70 acres across 12 parcels, has been acquired for $7,000,000. The loan for this acquisition, amounting to $6,300,000, was facilitated through the SBA 504 program. The financing structure involved a 50% 1st mortgage provided by Business Finance Capital CDC and a 40% 2nd mortgage from the SBA.

Summary of transation details:

• Property Type: Industrial
• Transaction Amount: $7,000,000
• Loan Amount: $6,300,000
• Loan Type: Acquisition Loan
• Lender: Lee Kleinman - Business Finance Capital CDC
• Landlord: Chad Hess
• Loan Terms: Owner-user purchase under the SBA 504 program with a 50% 1st mortgage and a 40% 2nd mortgage

Representing the lender in this transaction is Lee Kleinman from Business Finance Capital CDC. The landlord involved in the deal is Chad Hess, overseeing the industrial property at 44 West Avenue H-6 in Lancaster. The acquisition loan used for this transaction highlights the collaboration between multiple parties to facilitate the purchase of this industrial asset.