Florence Bank Provides $1.3M Refinance Loan For 37,671 SF Industrial Property In Plainville CT

This transaction involves a 37,671 square foot industrial property located at 329 Cooke Street in Plainville, Connecticut. The asset is fully leased to a single tenant under a NNN lease, ensuring consistent cash flow for the owner. A refinance loan of $1,300,000 was secured to support this property. The loan features a term of 10 years with an amortization schedule of 30 years and an interest rate of 5.65%, along with full cash-out provision.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $1,300,000
• Loan Type: Refinance
• Loan Terms: 10 Years
• Amortization: 30 Years
• Interest Rate: 5.65%
• Asset Size: 37,671 SF
• Address: 329 Cooke Street
• Market: Plainville, CT
• Lender: Florence Bank
• Brokers: Jordan Gellman, Steven Edelstein & Isaac Filler - Filler Capital

Jordan Gellman and Steven Edelstein, along with Isaac Filler from Filler Capital, played key roles in facilitating this financing arrangement. Their collaborative efforts resulted in the successful closing of this industrial loan, reflecting their commitment to providing effective financing solutions for clients across the nation.