MECHANICSBURG, PA. — HFF has secured a $6.1 million loan for a vacant industrial warehouse property located at 4500 Westport Drive in Mechanicsburg. The borrower was a joint venture between Foxfield Ventures and Novaya Real Estate Ventures. Ready Capital Structured Finance provided the non-recourse, interest-only payment loan that features a two-year term and a one-year extension option with flexible pre-payment. The loan facilitated both the acquisition and future funding needs to implement a light capital improvement program at the 178,000-square-foot property. Situated on 11.2 acres, the property features 2,500 square feet of office space, 20 dock doors and 35-foot ceiling heights. Ryan Ade of HFF led the firm’s debt placement team that arranged the financing for the borrower.
Located at 4500 Westport Drive in Mechanicsburg, Pa., the vacant building offers 178,000 square feet of industrial warehouse space.
HFF Arranges $6.1M Loan for Industrial Warehouse in Mechanicsburg, Pennsylvania
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