Dealmaker: Axiom Capital Corp. Arranges $43M for Industrial Assets

Axiom Capital Corp., Montclair, N.J., arranged $43 million to refinance industrial properties in Summerville, S.C. and Saddle Brook, N.J.

The firm secured $28 million in permanent financing for the Summerville industrial property. The 12-year non-recourse loan came with six months of interest-only payments followed by a 30-year amortization schedule. The loan demonstrated a sub-70 percent loan-to-value ratio at closing.

Located in the growing Charleston, S.C. market, the subject property is immediately off Interstate-26 with access to the Port of Charleston, North Charleston Terminal, Leatherman Terminal and Wando Welch Terminal. The property is well-suited for high-volume container traffic users such as e-commerce, omnichannel retail logistics, aerospace and automotive suppliers

In New Jersey, Axiom arranged $15 million in permanent for a warehouse on 6.5 acres in Saddle Brook. The 10-year non-recourse loan will amortize over 20 years. The loan closed with a sub-60 percent LTV.

The site is near Interstate-80, the Garden State Parkway, U.S. Route 46 and State Route 17. Its location 10 miles from the George Washington Bridge and 15 miles from the Lincoln Tunnel gives access to Midtown Manhattan. The fully leased 187,350-square-foot warehouse includes 29,000 square feet of office space.