iBorrow Provides $5M for Medford Industrial Facility 

iBorrow, a nationwide private direct lender for commercial real estate, has closed a $5.14 million loan to finance the acquisition of a 41,000-square-foot industrial facility in Medford, New York.  

“Investors, sellers and others cannot simply put their commercial real estate transactions on hold while banks remain on the sidelines,” said Brian Good, CEO of iBorrow. “They continue to need access to reliable, transparent financing that allows them to stay on track with their business plans, or to achieve liquidity on a timely basis.” 

The industrial facility features one loading dock, five drive-in doors, 22′ clearance heights, and is situated on a 3.11-acre parcel of land in a submarket with a low 2.6% vacancy rate. The financing will allow the sponsors to make further improvements to the facility and begin leasing it at market rental rates.