MIAMI, May 29, 2019 /PRNewswire/ -- FM Capital's direct bridge lending platform originated a $21 Million loan for the refinancing of an industrial freezer warehouse located in Miami, Florida.
Built in 1968, the 235,758 square foot warehouse is located near major highway I-95 with quick access to the free-way, turnpike and other major roads. The property is currently 82 percent leased, occupied by South East Frozen Foods and Super Value. Sponsorship will be investing approximately $1.1 Million in Capital Improvements, with the option of sale or refinancing within the loan term.
"The combination of the lack of industrial cold storage supply in South Florida coupled with the value-add potential allowed us to execute with aggressive loan terms," says FM Capital's Principal, Aaron Kurlansky.
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About FM Capital
FM Capital, LLC is a full service vertically-integrated Commercial Real Estate (CRE) investment firm, headquartered in South Florida. FM Capital invests in commercial real estate, debt strategies and specializes in originating CRE financing. Since their inception in 2007, FM Capital has originated more than $3 billion in assets.
SOURCE FM Capital