The VOREA Group And MEGA Development Secure $7.5 Million Construction Loan From RRA Capital

The property involved in this transaction is a light industrial asset located at 44-01 11th Street in Long Island City. The asset comprises a total square footage of 45,000 and was financed with a construction loan amounting to $7,500,000.

Summary of transaction details:

• Property Type: Light Industrial
• Transaction Amount: $7,500,000
• Address: 44-01 11th Street
• Market: Long Island City
• Landlord: The VOREA Group & MEGA Development
• Lender: RRA Capital
• Broker: Justin Horowitz - Cooper Horowitz, LLC

This transaction involved key entities and individuals including the landlords The VOREA Group and MEGA Development who are responsible for the property. Financing was provided by RRA Capital, showcasing their involvement in supporting construction projects in the market.