Century Development Group Secures $9M Acquisition Loan From MidFirst Bank For Long Island City Site

The asset involved in the transaction is a distribution center located at 10-38 45th Road in Long Island City. The acquisition loan amount secured for this property is $9,000,000, backed by MidFirst Bank.

Summary of transaction details:

• Property Type: Distribution Center
• Transaction Amount: $9,000,000
• Lender: MidFirst Bank
• Brokers: Morris Betesh, Omar Ferreira, Jacob Petrovic & Jonah Schultz - Arrow Real Estate Advisors
• Borrower: Century Development Group

Arrow Real Estate Advisors facilitated the acquisition financing for Century Development Group, enabling the successful transaction through their representation. The deal showcases the collaborative efforts of experienced brokers in the Long Island City market.