LONG ISLAND CITY, NY-A venture managed by Sterling American Property Inc. is all set to hand over the control of its office complex called Woodlands Office Park in Long Island to its debt holder. The debt balance on the complex measuring 127,000 square feet was $12.7 million as of last summer.
The complex comprising three buildings is located on Veterans Memorial Highway in Hauppauge. It is a portion of the fund Sterling American Property IV managed by Sterling Equities.For the full story, go to Wall Street Journal.
GlobeSt.com News Hub is your link to relevant real estate and business stories from other local, regional and national publications.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.