Shepher Warehouse

$8,500,000 bridge loan secured by a first mortgage on a 120,000 square-foot industrial warehouse property located at 2300 Linden Boulevard in the East New York section of Brooklyn, New York. The property is occupied by the borrower’s toy distribution company. The property was built in 1957 and currently includes 120,000 square feet of industrial warehouse space in two adjacent buildings. The borrower plans to sell the smaller, 30,000 sq. ft. building to a third-party. Edgewood’s loan proceeds will be used to pay off current outstanding debt on the property and provide capital for business operations.