FINANCED
RIPCO Secures $19.4M Construction Loan For Industrial Asset In Milford, CT
305 Sub Way
Industrial
Financed 18 days ago
Summary
Loan
CONNECTICUT
Industrial
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.
Players
Details
FINANCED
IMAGE: Steven Sperandio, Michael Fasano & Jake Weiss
DATE: 04/22/2024
ADDRESS: 305 Sub Way
MARKET: Milford, CT
ASSET TYPE: Industrial
LENDER: Ion Bank (@Ion_Bank)
LANDLORD: RD Scinto
BROKERS: Steven Sperandio (@RipcoCapitalAdvisory), Michael Fasano & Jake Weiss (Jakeweiss6) - Ripco (@RipcoRealEstate)
LOAN AMOUNT: $19,400,000
LOAN TYPE: Construction
NOTE FROM BROKER: RIPCO’s D&SF team sourced a $19,400,000 loan for the construction of an industrial asset that is pre-leased to Wüsthof Knives and Accessories. Located along Connecticut’s golden coast, this asset will be constructed over a 2-year term that will be followed by a 20-year permanent term with an interest rate that was fixed at closing via a forward starting interest rate swap.View on map
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Address305 Sub Way
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