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AVANA Companies provided financing for the acquisition of a 9-story office building. The building was constructed in 2003, it is just over 150,000 SF, sits on 11 acres, is rate class “A”, and houses 37 tenants. Our expert lenders know CRE financing. Reach out today for help; we’ll be at your side every step of the way!
| Loan Amount | $14,200,000 |
| Loan Purpose | Acquisition |
| Loan Type | Office |
| Project Date | October 1, 2022 |
Led by Trevor Terpening, the team at Extensia Financial Credit Union developed favorable terms for a $14.2 million loan to be used for the purchase of the $21.5 million property. The building is considered among the most affordable high-quality office spaces on Long Island with an attended lobby, café, energy efficient windows, and beautiful views.
“Extensia Financial is proud to partner with businesses that want to have a positive impact on their communities by investing in properties, renovating buildings to be more efficient, and creating jobs through long-term initiatives,” says Trevor
Terpening, vice president of originations at AVANA Company’s Extensia Financial.
“Our team has a rich history of developing favorable terms for office building acquisitions like this one that align with AVANA’s commitment to revitalize communities.”
This deal supports Central Islip community as the buyer is planning major upgrades to the building and property. The surrounding neighborhood is comprised of multi-family apartments, retail, office, and government buildings that will benefit from this long-term investment.