Axiom Capital has arranged $7,600,000 in construction to permanent financing for a medical office building in Clifton Park, NY. The non-recourse loan was for 11 years at a fixed rate with 1 year of interest only payments. The loan demonstrated a sub 80% LTV of the “as completed” value.
The Project is ideally located within the Town of Clifton Park in Saratoga County – one of the fastest growing areas in Upstate New York. The Project has easy ingress and egress to U.S. Route 9 and is approximately less than a mile (or 2 minutes) from Route 146 and 1.1 miles (or 3 minutes) from Exit 9 of I-87.
When completed, the building will be 40,000 square feet to be used for medical office space.