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3650 REIT Funds $59M Acquisition Loan for Industrial Property in Yaphank, New York

50-Horseblock-Road-Yaphank-New-York

The industrial property located at 50 Horseblock Road in Yaphank, New York, totals 491,200 square feet.

YAPHANK, N.Y. — 3650 REIT has funded a $59 million acquisition loan for 50 Horseblock, a 491,200-square-foot industrial property in the Long Island community of Yaphank. Built in 1986, the property was fully leased to New Jersey-based drug manufacturer Amneal Pharmaceuticals at the time of sale. Building features include a clear height of 28 feet and 12 loading docks. Adam Licari and Jeff Shriver of Eastdil Secured arranged the 10-year loan on behalf of the borrower, private equity firm New Mountain Capital.

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