NEW YORK – November 7, 2018 – Berkadia today announced the $45 million financing for Powers Industrial Portfolio, an industrial property in Danbury, Connecticut. Managing Director Yuri Kletsman of the New York office secured the permanent refinancing through Citigroup on behalf of Delaware Commerce Park, LLC. The deal closed on October 26.
The 10-year loan features a 6.40 percent fixed interest rate blended between a senior and mezzanine loan structure. It also features an 80 percent loan-to-value ratio.
The portfolio is a mix of industrial and warehouse buildings.