Rhine Legacy Capital, a commercial real estate private lender, has successfully secured a bridge loan of $6,887,500 for the acquisition of a prominent industrial asset in Newburgh, New York. The property, located at 392 North Montgomery St., boasts a prime location with tremendous potential in both its existing infrastructure and surrounding land.
The asset is 90% occupied with long-term tenants. The bridge loan, which features a floating interest rate based on Prime + 4%, was financed by Rhine Legacy Capital.
“We are thrilled to have secured this bridge loan for the acquisition of such a promising industrial asset,” said Samuel Kwadrat, managing partner of Rhine Legacy Capital. “The property’s high occupancy rate and its strategic location make it an exceptional addition to our portfolio. We are confident in the tremendous potential this investment holds.”
