NEW YORK—New York City-based Hudson Realty Capital L.L.C. has provided a $12.5 million bridge loan for a 689,000-sq.-ft. industrial building located in Arbutus, Md.
“Like many owners of Class-B and Class-C assets in the nation’s middle markets, this sponsor needed a competitively priced, non-recourse bridge loan to stabilize the property for the longer term,” said Geoffrey Smith, one of Hudson’s managing directors. “Hudson is helping fill the lending void in primary and secondary markets for storied properties that are poised for a rebound and sustained growth.”
Totaling 34 acres, the Baltimore County industrial site features 26-ft. to 32-ft. clear heights, 50-ft. column spacing, 26 cranes, including one 10-ton crane bay, and 12 drive-through doors. In addition to covered rail service, the property also offers access to the Port of Baltimore.
Located south of Baltimore, the property is in close proximity to I-95 and includes tenants in manufacturing, logistics and wholesale businesses.