Carswell of Largo arranges $10.54 million in acquisition financing for industrial buildings

Mountainside, NJ Dave Carswell, managing director at Largo Capital, arranged $10.53 million in acquisition financing for a pair of industrial buildings. The properties consist of 80,000 s/f and are situated on 9 acres directly off U.S. Route 22. Both buildings are 100% occupied by two tenants. There are several value-add opportunities including a 21,500 s/f expansion, an outdoor storage income opportunity, and a lease buy-out opportunity to unlock final value. 

Carswell was able to secure a non-recourse, fixed rate, interest-only bridge loan with a 3+1 year term and minimal structure or reserves.