Saving Bank Provides $10M Loan To Refinance Industrial Property In Brooklyn

The industrial property located at 1130 Linwood Street in Brooklyn has recently undergone a loan transaction. The loan, valued at $10,000,000, was provided by Saving Bank. This transaction involved a refinance loan type with a term of 5 + 5 years. The interest rate for this loan is 5.53%, and it has an amortization period of 2 years interest-only, followed by 30 years of full repayment.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $10,000,000
• Lender: Saving Bank
• Loan Type: Refinance
• Loan Terms: 5 + 5 Years Rate: 5.53%, Amort: 2 Years IO then 30 Years
• Brokers: Michael Helmreich & Avi Geller - Meridian Capital Group

Michael Helmreich and Avi Geller from Meridian Capital Group represented the parties involved in this loan transaction. They played a crucial role in facilitating the refinance deal for this industrial property on Linwood Street in Brooklyn.