Floating Rate Loan - Acquisition
- 67,573 sf Office Building
- Daniel Island, SC
Axiom Capital has arranged $7,200,000 in financing for a two-story office building in Daniel Island, Charleston, SC. The non-recourse loan was for a 2-year term with 2 years of interest only at a floating rate. The loan also offered two 1-year extension options.
The 67,573 square foot, two story multi-tenant office building was constructed in 1995 with the common areas renovated in 2012. The building is situated on a 11.6-acre parcel fronting the marshes of Beresford Creek with excellent access to Interstate-526 and a 15-minute drive to the Charleston Airport.
The asset is located within Daniel Island. Daniel Island is part of the City of Charleston and is located about 20 minutes from the downtown peninsula of historic Charleston. The development of Daniel Island began in the early 1990s and it is known as “Charleston’s Island Town where people live, work, and play.” Daniel Island is developed with traditional neighborhoods, nationally ranked golf courses, and a downtown area anchored by the Volvo Car Stadium.