Refinance of a 1.75 acre Industrial Property in Mineola, NY
January 2016, New York, NY - Paradigm Capital, a nation-wide, private commercial real estate bridge lending firm, is pleased to announce that it has funded a $2,200,000.00 1st mortgage, for the refinance of a 1.75 acre Industrial Property with improvements totaling 23,000 SF of flex space in Mineola, NY. Our Borrower had private financing on the Property come due and in preparation for applying for an SBA7 loan, decided to consolidate all of their outstanding debt under a single 1st mortgage.
"With our Borrower's private financing having come due, it was imperative that Paradigm move quickly to close this transaction. We believe this consolidation of our Borrower's debt will allow for a less complicated application process for the SBA7 loan our Borrower is attempting to secure. We were able to operate within our Borrower's time constraints and closed this transaction in under 30 days," said David Kushner, President of Paradigm Credit Corp.