Steve Poulos Of Bridge Industrial Secures $86.2M Loan For Bayonne Industrial Facility

Bridge Point Bayonne is an industrial facility located at 63 Hook Road in Bayonne, comprising 355,580 square feet and situated on 18 acres of land. The property is part of a market that supports industrial activities in the region.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $86,200,000
• Lender: Massachusetts Mutual Life Insurance Co
• Landlord: Steve Poulos - Bridge Industrial
• Previous Loan: $100,000,000 construction loan from Banc of California
• Completion Year: 2024
• Proximity: Near Port Newark and Newark Liberty International Airport

Steve Poulos represents Bridge Industrial in securing a permanent loan from Massachusetts Mutual Life Insurance Co., which replaces the previous construction loan for the property. The transition to a permanent loan indicates the project's completion timeline and readiness for operational use post-construction.