HUDSON REALTY CAPITAL FUNDS $14.15 MILLION FIRST MORTGAGE LOAN SECURED BY INDUSTRIAL BUILDING LOCATED IN THE BRONX, N.Y.
BRONX, N.Y. – October 18, 2011 – (RealEstateRama) — Hudson Realty Capital LLC has funded a $14,150,000 first mortgage loan secured by a multi-story industrial building located in the Bronx, N.Y. The borrower used the proceeds from the loan to finance the purchase of their existing ground lease and to fund necessary reserves. In addition, Hudson will have the option to provide funding for tenant improvements and leasing commissions in the event that the landlord leases the vacant space.
