ACRES funded an $8.15 million first mortgage construction loan secured by approximately seven acres of land and a to-be-developed, 119,200-square-foot industrial property in Boise, Idaho. This project will include:
The project represents an opportunity to build a new, modern industrial facility in a tight, upward trending market with dated inventory. Located in Boise’s southeast industrial submarket, the property is an accessible area connecting to South Federal Way, a primary commercial arterial.
The property is immediately proximate to goods, services, and employment centers commensurate with its intended use. Additionally, sponsor has extensive experience in commercial and industrial construction, with 100+ years of experience between him and his staff.
Exantas Capital Corp.is externally managed by ACRES Capital, LLC. The Company’s primary investment strategies include transitional commercial real estate loans and longer duration commercial real estate credit investments, such as commercial mortgage-backed securities. To see more on EXANTAS, click below.