The floating-rate is made up of 26 industrial and office properties. Long Island Industrial Group, the borrower, received $128,203,000 in interim financing with a floating interest-rate and an interest-only amortization. The properties total just over 2.5 million sf on 168 acres.
The fixed-rate portion consists of nine properties, for which borrower Long Island Industrial Group received just under $36.5 million in permanent financing. The package carries a 10-year fixed rate with a 30-year amortization; the properties total just under 865,000 sf on 59.4 acres.
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