Axiom Capital Corp. has arranged $3,100,000 in permanent financing for the refinance of a retail/ office plaza in Greece, NY. The non-recourse loan was for 10 years at a fixed rate amortized over 30 years. The loan demonstrated a sub 60% LTV with a strong DSCR.
The Plaza is ideally located along the area’s major retail and traffic corridor that features easy access and excellent visibility with average daily traffic count of more than 35,000 vehicles. The plaza is a premier strip center in the area offering a variety of shopping options, professional and medical services and other conveniences. With outdoor covered promenades, extended overhangs, comprehensive landscaping and artistic touches, the Plaza has become a go to place for local residents to shop, eat, work and play.
The Plaza is 9.4 miles from downtown Rochester. Rochester is the third most populous City in New York State with a population of over 200,000 people. The Rochester Metropolitan Statistical Area has a population of more than one million people. Rochester is home to Fortune 1000 and international businesses, including Paychex Inc., as well as several national and regional companies such as Carestream Health.