Specialists Ltd Secures $59M Refinance Loan For Industrial Condo In Ridgewood, Queens

The Specialists Ltd., a prop and scene fabricator, has secured a $59 million refinancing loan from Wells Fargo for its industrial condo located at 48-05 Metropolitan Avenue in Ridgewood, Queens. The property is an industrial asset with a total square footage of 61,704. The loan was granted on December 6, 2023.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $59,000,000
• Address: 48-05 Metropolitan Avenue, Ridgewood, Queens
• Lender: Christopher Zimmermann - Wells Fargo
• Landlord: Richard Ryder Washburn III - Specialists Ltd

This refinancing deal was arranged by Christopher Zimmermann from Wells Fargo, representing the lender, and Richard Ryder Washburn III from Specialists Ltd, the landlord. The loan amount of $59 million indicates the significant investment and commitment made by both parties. The Specialists Ltd, a prominent prop and scene fabricator, will be able to utilize the funds for further development and growth of their industrial condo.