An industrial asset located at 305 Sub Way in Milford, CT, was the subject of a recent transaction involving a $19,400,000 construction loan sourced by Ion Bank. The property, pre-leased to Wüsthof Knives and Accessories, is set to undergo construction over a 2-year term, followed by a 20-year permanent term.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $19,400,000
• Lender: Ion Bank
• Landlord: RD Scinto
• Brokers: Steven Sperandio, Michael Fasano & Jake Weiss (Jakeweiss6) - Ripco

Ripco’s D&SF team played a pivotal role in securing the $19,400,000 loan for the construction of this industrial asset. The property is strategically positioned along Connecticut’s golden coast and will benefit from a fixed interest rate, facilitated by a forward starting interest rate swap at closing.