Cronheim Mortgage Arranges $27M Refinancing for Industrial Facility in Newburgh, New York
NEWBURGH, N.Y. — Cronheim Mortgage has arranged a $27 million refinancing for a 504,875-square-foot industrial facility in Newburgh. The property is currently fully leased to wholesale grocery supply company C&S Corp. Features at the facility include ceiling heights of 40 feet, one drive-in dock and 89 tailgate loading docks. The building was constructed in 1990. The loan was placed with American General Life Insurance Co. and The United States Life Insurance Co. The borrower is an affiliate of Purchase, N.Y.-based National Realty & Development Corp.