Axiom Capital Corp. has arranged $16,750,000 in permanent financing for the refinance of a grocery anchored retail plaza in Warwick, NY. The non-recourse loan was for 10 years with 10 Years of Interest-Only payments. The loan demonstrated a sub 65% LTV at the time of closing.
The subject property is located along Route 94 and Warwick Turnpike, within the Town of Warwick. The Store was originally a Big V Supermarket and has undergone significant renovations in the recent years. Subtenants include a mix of local retailers including a pet store, hair salon, wine and liquor, pizzeria, etc.
Warwick is a town in the southwest part of Orange County, New York. Its population was 32,065 at the 2010 census. Warwick is about 55 miles northwest of New York City and borders northern New Jersey – Townships of West Milford and Vernon. Warwick is the home of the annual Applefest, the Summer Arts Festival, The Black Dirt Feast, the Hudson Valley Jazz Festival, and other events and festivals.