Permanent Loan - Refinance
- 77,527 sf Mixed Use Retail & Office Plaza
- Clifton Park, NY
Axiom Capital Corporation announces the closing of an $11,250,000 permanent loan for the refinance of a mixed use building in Clifton Park, New York. The 10 year, non-recourse loan was closed at a 3.99% fixed rate. The loan demonstrated a 70% Loan to Value and a 1.5x Debt Service Coverage amortized over 30 years.
The subject property is a is a 77,575 square foot retail shopping center with second floor office space in the Town of Clifton Park, Saratoga County. The plaza comprised of three buildings that are home to 22 retail spaces and 10 office suites. The plaza hosts many national tenants such as T.G.I. Friday’s, Sleepy’s, Verizon Wireless, UPS Store, Five Guys Famous Burgers and Fries and Nationwide Insurance as well as locally known tenants of Shane’s Rib Shack, Clifton Park Hot Yoga and Hannoush Jewelers.
Clifton Park is one of the Capital District’s busiest and fastest growing submarkets, and the plaza are strategically situated at the intersection of Clifton Park’s two primary retail corridors, Route 146 and Clifton Country Road, just off Interstate 87. This intersection is the epicenter of Southern Saratoga County’s retail, lodging, conference, office, and industrial commerce. Clifton Park is a suburban town and one of the Capital Districts largest, most popular, and fastest growing submarkets. Saratoga County is home to the famed Saratoga Race Track and an entertainment and recreational hub. The county is also becoming a worldwide center for semi-conductor and nanotech manufacturing and research.