55 Bergenline Ave. in Westwood — Courtesy: Polaris Funding
By Joshua Burd
The owner of a 46,000-square-foot industrial building in Bergen County has refinanced the property for $5.8 million, under a deal arranged by Polaris Funding.
According to the commercial mortgage broker, which sourced the loan on behalf of Gold Tree Management, the transaction comes with a 4.4 percent interest rate and a 30-year amortization. Esquire Bank is providing the debt for the property at 55 Bergenline Ave. in Westwood, which has a 70 percent loan-to-value ratio.
Abe Berger, a broker with Lakewood-based Polaris, completed the assignment.