Type Logo
FM Capitals Direct Bridge Lending platform Originates $21 Million loan for Industrial Freezer

FM Capitals Direct Bridge Lending platform Originates $21 Million loan for Industrial Freezer

Jun 3, 2019

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