Industrial/Flex Property Loan Closed: $1,570,000 SBA 504 Acquisition
Liberty SBF provided a $872,500 first mortgage and a $698,000 interim second mortgage for a total of $1,570,000 in SBA 504 financing for the acquisition of a 5,130 SF industrial building in Brooklyn, NY. The building consists of 4,617 SF of industrial space and 513 SF of office space, as well as a small cellar utilized for additional storage.
The company provides electrical services to buildings under construction. Services include wiring installation, electrical breaker box installation, fixture installation, and utility hook-ups, among others. The majority of its projects are residential properties.
Liberty SBF also provided the borrower with additional SBA 504 financing for the purchase of a second property. Click here to read the details of that deal.