BEB Lending, the finance platform of BEB Capital, facilitated a $5 million, 18-month bridge loan for the acquisition financing of an 87,000-square-foot industrial property on 2.44 acres at 244 Duke St. in Kearny. The financing transaction represents BEB Lending’s second in the Kearny market.
BEB Lending was represented in-house by Sean Silverbrook, vice president of BEB Lending. Mark Brachfeld of Meridian Capital Group represented the borrower in the transaction.
“BEB Lending provided financing to the current tenant who was looking to close on the acquisition of 244 Duke St. in 10 business days to meet 1031 Exchange guidelines,” said Silverbrook said. “The BEB Lending platform, which provides quick and creative financing solutions for the commercial real estate community, was created for exactly this purpose and we’re excited to have the opportunity to offer this financing solution and for our second transaction in Kearny, which continues to be a strong industrial market.”
