ACRES Provides $31 Million for Industrial Property in Bogota, NJ
JULY 24, 2025Loan to fund a 208,575 SF Industrial Lease-up in New Jersey.
Bogota, NJ – July 24th, 2025 – ACRES Capital Corp. (together with its affiliates, “ACRES”) announced that it has funded a $31 million loan to refinance and lease 24 River Road, a Class B industrial development with a total net rentable area of 208,575 SF, located on a 10.796-acre site in Bogota, New Jersey. The sponsor for the transaction is Thor Equities Group.
“We are pleased to continue our partnership with Thor by providing tailored financing for 24 River Road,” said Mark Fogel, Chief Executive Officer and President of ACRES Capital Corp. “This transaction aligns with ACRES’ continued commitment to supporting well-located, value-add properties that demonstrate strong market fundamentals. Our $31 million bridge facility will allow sponsorship to complete capital improvements, execute its lease-up plan, and ultimately deliver a fully stabilized, state-of-the-art property to meet the growing demand for industrial space in Northern New Jersey.”
