Hollywood, Fl., -- An affiliate of FM Capital LLC, originated a $10 Million bridge loan with a 12-month term for Turfway Ridge Office Park, in Florence Kentucky. The Borrower, a Los Angeles based real estate investor, purchased this asset via an auction process from a Special Servicer. "Due to our industry expertise, the Borrower came to us just a few weeks prior to closing looking for a quick execution and seamless process", says FM Capital's SVP Joe Fishman.
The 217,000-sqft. office building is located in Florence, KY, a submarket of the Cincinnati/North Kentucky International Airport. The airport has become the new hub for Amazon Prime's distribution center featuring their own air fleet. The Borrower plans to take advantage of this strong market and bring the building to full occupancy, while retaining and managing multiple high
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