Dealmaker: Axiom Capital Corp. Arranges $25M for Retail Properties

Axiom Capital Corp. Montclair, N.J., arranged $25.3 million in financing for two New York retail assets.

The firm arranged $15 million to refinance a grocery-anchored retail plaza in Montgomery. The property is less than half a mile from Interstate-84 about 60 miles northwest of New York City and sees more than 42,500 cars pass daily. The 10-year non-recourse loan will remain fixed for the first five years.

The subject property consists of a 14.30-acre site improved with a 99,400 square foot building constructed in 1995. The grocery anchor occupies 56,000 square feet; the remaining 43,400 square feet of inline retail space has subtenants including a pharmacy and local retailers including a hair salon, a wine and liquor store and restaurants.

Axiom also arranged a $10.3 million fixed-rate, non-recourse loan to refinance of a grocery-anchored retail plaza in Albany suburb Colonie. At closing the property was 100 percent occupied with three-quarters of its space leased to tenants that have been in place since 2009 or earlier. The tenant mix includes national, regional and local companies including a supermarket, a gym, a post office, a restaurant and a real estate firm.