BALTIMORE--()--A 689,000-square-foot industrial building located in the Baltimore suburb of Arbutus, Md., has secured at $12.5 million bridge loan from real estate fund manager Hudson Realty Capital LLC (Hudson), based in New York City. The property’s tenant roster includes a prominent manufacturing company, mechanical contractor, logistics company and wholesaler of natural stone products.
“Hudson is helping fill the lending void in primary and secondary markets for storied properties that are poised for a rebound and sustained growth.”
The 34-acre Baltimore County industrial site features 26-foot to 32-foot clear heights, 50-foot 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 just south of Baltimore, Interstate 95 is easily accessible via the I-295 and I-695 interchanges, just one mile away.
“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.”
Established in 2003 as a Minority-Owned Business Enterprise (MBE), Hudson focuses on middle-market investments, as well as large loan-portfolio acquisitions and asset management activities. The Manhattan-based real estate fund manager originates, purchases, participates in, services and restructures special-situation debt. The company also invests directly in real estate and acquires under-performing assets and other real estate-related instruments.
Headquartered in New York City, Hudson maintains regional offices in Portland, Maine and Fort Myers, Florida. The company has closed more than $3.5 billion in transactions since the formation of its initial two funds and has more than $2 billion of assets, including multi-family, retail, office and industrial, under management. Hudson also has been named among the New York Area’s largest privately held companies and largest minority-owned companies and one of the Top 25 lenders nationally.