Soltage Secures $16.6 Million Construction Loan From National Bank Of Canada For St. Albans Lot

The asset involved in this transaction is a vacant lot located at 198-01 118th Avenue in the St. Albans neighborhood of Queens. The property is currently being developed for a specific purpose, which entails a construction loan. The loan amount secured for this vacant lot is $16,600,000.

Summary of transaction details:

• Property Type: Vacant Lot
• Transaction Amount: $16,600,000
• Lender: National Bank of Canada
• Landlord: Soltage
• Loan Type: Construction

This transaction highlights the involvement of National Bank of Canada as the lender in providing the loan for the project. Soltage, as the landlord, is spearheading the development of a battery energy storage system on the site, indicating a focus on energy initiatives in the area.