GAL Manufacturing Secures $45M Financing For South Bronx Facility From Royal Bank Of Canada

GAL Manufacturing Corp. and Jo Taylor, representing the Ontario Teachers' Pension Plan, have secured a $45 million financing deal for their commercial property located at 50 East 153rd Street in Morris Heights, Bronx. The property is an asset type of commercial and is situated in the Morris Heights market.

Summary of transaction details

• Property Type: Commercial
• Transaction Amount: $45,000,000
• Lender: Royal Bank of Canada
• Landlord: GAL Manufacturing Corp & Jo Taylor - Ontario Teachers Pension Plan

The Royal Bank of Canada has provided a loan of $45 million to GAL Manufacturing Corp. and Jo Taylor for their facility at 50 East 153rd Street. GAL Manufacturing Corp. is a subsidiary of the Ontario Teachers' Pension Plan, making the pension plan a key player in this deal. The financing deal will support the operations and growth of GAL Manufacturing Corp. in the South Bronx.