HFF Arranges $6.1M Loan for Industrial Warehouse in Mechanicsburg, Pennsylvania

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.