Office Building Acquisition Deal

AVANA Companies provided financing to a real estate investor for the acquisition of a three story, class ‘B’ office building in Poughkeepsie, New York. The 33,421 square foot building is located within the Central Business District and Federal Opportunity Zone in the Poughkeepsie Innovation District. The borrower worked closely with AVANA CUSO Credit Union’s team, led by Matt Wilk to develop personalized terms for a $3.52 million loan for acquisition of the property. The building had stable tenants, including a healthcare group and the General Services Administration, that used it as a U.S. Bankruptcy Court.

“At AVANA, our team works closely with borrowers to understand their needs so we can personalize loans and create funding options that suit their unique needs, regardless of the scale,” says Matt Wilk, VP of CRE Originations at AVANA Companies AVANA CUSO. “We were happy to work with the investor on this project as they continue investing in the future of communities throughout the state of New York.”