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Office Building Acquisition Deal
Poughkeepsie, New York
AVANA Companies provided financing to a real estate investor for the acquisition of a three story, class ‘B’ office building in Poughkeepsie, New York. The 33,421 square foot building is located within the Central Business District and Federal Opportunity Zone in the Poughkeepsie Innovation District. The borrower worked closely with AVANA Capital Credit Union’s team, led by Matt Wilk to develop personalized terms for a $3.52 million loan for acquisition of the property. The building had stable tenants, including a healthcare group and the General Services Administration, that used it as a U.S. Bankruptcy Court.
At AVANA, our team works closely with borrowers to understand their needs so we can personalize loans and create funding options that suit their unique needs, regardless of the scale,” says Matt Wilk, VP of CRE Originations at AVANA CUSO. “We were happy to work with the investor on this project as they continue investing in the future of communities throughout the state of New York.
Location
Acquisition - $3,520,000
Office Building Acquisition Deal
Poughkeepsie, NY, USA
Loan Details
| Loan Amount | $3,520,000 |
| Loan Purpose | Acquisition |
| Loan Type | Office |
| Project Date | September 23, 2022 |
More Details
About AVANA Companies:
AVANA Companies (AVANA), founded in 2002, is an asset management platform aimed at building capital for a better tomorrow by stimulating economic growth, creating jobs, and contributing to sustainable projects. Headquartered in Arizona, USA with regional offices in Bahrain and Saudi Arabia, AVANA serves small businesses, entrepreneurs, institutional and retail investors, and credit unions in these markets. AVANA provides private credit commercial real estate loans through AVANA Capital, AVANA CUSO, Ezdaher.sa and LendThrive™. AVANA also offers private credit commercial investment opportunities to institutional and individual investors through AVANA Fund and EqualSeat™.