KSR Capital Secures $1.84 Million Loan For Industrial Property In Pelham

The property located at 5 Canal Road, situated in the Pelham market, encompasses an industrial asset type with a total square footage of 23,500. The transaction involves a loan amounting to $1,840,000, designated for acquisition purposes. The loan is structured with terms of 2 years interest-only, referencing SOFR plus 375 basis points, and is classified as non-recourse.

Summary of transation details:

• Property Type: Industrial
• Transaction Amount: $1,840,000
• Address: 5 Canal Road
• Market: Pelham
• Asset Size: 23,500 SF
• Landlord: KSR Capital
• Broker: Morris Dweck - KSR
• Loan Type: Acquisition
• Loan Terms: 2 years IO, SOFR + 375, Non-Recourse

Morris Dweck played a pivotal role in this transaction by successfully arranging non-recourse financing for the vacant property, drawing upon resources from a local New York bank.