Permanent Loan - Refinance
- 42,590 sf Office Building
- Clifton Park, NY
Axiom Capital Corporation has arranged $2,850,000 in permanent financing for the refinance of a multi-tenant office building. The 10 year non-recourse loan was closed with a local bank and demonstrated a 51.8% Loan to Value and 1.68x Debt Service Coverage, amortized over 25 years.
The subject property is a 42,590 square foot, two-story, Class A, office building that was constructed in 1998 and is situated on a 4.10 acre site. The building has 14 professional tenants, many of whom have been tenants at the property since the early 2000’s.
The subject is highly visible, and strategically located, directly off of I-87 (the primary North/South thoroughfare in the region), in Clifton Park within the Capital District region of NY. The immediate area surrounding the building is one of the region’s top retail destinations. Clifton Park is a highly desirable suburb of Southern Saratoga County. It is located just 15 miles north of the SUNY College of Nanoscale Science and Engineering facility in Albany, NY, and just 10 miles south of the Luther Forest Tech Park and Global Foundries semiconductor chip manufacturing plant in Malta, NY.