Faropoint Secures $90M Refinance Loan From New York Life For Industrial Portfolio

Located in Northern New Jersey, the Industrial Portfolio consists of 10 fully leased industrial facilities spanning 770,000 square feet. The properties are owned by Adir Levitas & Ohad Porat of Faropoint.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $90,000,000
• Address: Industrial Portfolio
• Market: Northern New Jersey
• Lender: New York Life Real Estate Investors
• Landlord: Adir Levitas & Ohad Porat - Faropoint
• Loan Type: Refinance

Faropoint, a data-driven real estate investment firm, secured a $90 million loan from New York Life Real Estate Investors for the refinance of the Industrial Portfolio. This transaction marks the first deal between Faropoint and New York Life Real Estate Investors, highlighting Faropoint's strategic investment approach in competitive industrial submarkets like North Bergen County and other key markets across the U.S.