Executive Hill Portfolio, West Orange, NJ
Pancho Real Estate is pleased to announce the financing of Executive Hill Portfolio, a 4 office building in West Orange, NJ. The portfolio is being financed by a $21 million non-recourse loan, representing 80% of the value of the property. The term of the loan is 3 years. The borrower is using part of the loan for approved tenant improvements and leasing expenses.
Rail Road I & II
Pancho structured a bridge loan, for the acquisition of an industrial facility in Sacramento, California. Railroad is comprised of two multi-tenant industrial buildings totaling 128,278 square feet. The Bridge loan is in place for 2 years with a year extension option, to allow the borrower to implement their lease up strategy and to refinance once the two buildings are fully stabilized.