Joseph Sitt Of Thor Equities Secures $31.2 Million Refinancing Loan For Industrial Property In New Jersey

24 River Road is an industrial property located in Bogota, New Jersey, comprising 208,500 square feet. This facility has been refinanced with a loan amount of $31,200,000 to aid in its leasing and stabilization efforts, providing rare rail access and being strategically situated near key transportation hubs.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $31,200,000
• Lender: ACRES Capital
• Landlord: Joseph Sitt - Thor Equities
• Loan Type: Refinance

Joseph Sitt, representing Thor Equities, engaged in the refinancing to enhance tenant flexibility and operational efficiency following recent upgrades. The property's strategic location and upgraded features play a significant role in supporting its leasing potential.