2 & 4 Westchester Park Drive. Picture courtesy of JLL
Northpath Investments has secured a $17.5 million refinancing mortgage for two and 4 Westchester Park Drive, two workplace buildings in White Plains, N.Y. JLL organized the five-year, fixed-rate notice via Centreville Financial institution.
Totaling 218,372 sq. toes, the belongings are presently 86.5 % leased and have a mixture of each of conventional workplace and medical workplace tenants.
Northpath acquired the 2 buildings from Heritage Realty Providers in a $20 million portfolio transaction in 2021, in accordance with CommercialEdge knowledge. Prime Finance Companions offered a $9.4 million acquisition mortgage, the identical supply reveals.
The 2 five-story buildings underwent a beauty renovation in 2008. They characteristic 9,000 sq. toes of retail area, a health heart, a convention heart, a cafeteria, passenger elevators, on-site day care, bicycle parking, managed entry and roughly 682 parking areas.
Positioned within the Westchester Avenue hall, the properties present quick access to interstates 287 and 87. The two and 4 Westchester Park Drive workplace buildings are located in an space with newly constructed multifamily communities, a number of retail facilities, eating choices and leisure venues.
Senior Managing Director Michael Klein, Director Max Custer and Analyst Benjamin Morgenthal led the JLL Capital Markets Debt Advisory crew, engaged on behalf of the borrower.
