Permanent Loan – Acquisition
- 530,280 SF Industrial Portfolio
- Oakdale, PA
Axiom Capital Corp. has arranged $35,200,000 in acquisition financing for an industrial portfolio in Oakdale, PA. The non-recourse loan was for 14 years at a fixed rate amortized over 25 years. The loan demonstrated a sub 65% LTV at the time of closing.
The Park is nine separate buildings with a total of 530,280 square feet. The Park was 97.5% occupied at the time of closing. The Park is comprised of pre-cast masonry constructed buildings ranging in size from 20,000 to 100,000 SF. A majority of the space was constructed after 2007 and features market standard clear heights, ESFR, ample loading capabilities, etc.
The Park is within the Pittsburgh metropolitan area and is situated near a confluence of major regional roadways, including US Routes 22 & 30, I-376, I-76, I-79 and I-80. The Park is within the largest and among the most popular industrial submarkets in the Pittsburgh region. Tenants have long preferred the submarket due to its ease of access, proximity to the Pittsburgh International Airport, nearby affluent suburbs and its abundance of amenities. Major regional and national corporate headquarters located in the corridor include FedEx Ground, Dick’s Sporting Goods, Chevron, Bayer Corporation, Thermo Fisher Scientific, Comcast, Industrial Scientific, Verizon and Cigna.