January 15, 2026 – CenterSquare’s Private Real Estate Debt team recently provided a mezzanine loan to facilitate the refinancing of a newly constructed Class A logistics facility in Putnam County NY. In conjunction with a senior loan provided by a global asset manager, the financing allows the Sponsor to retire the construction loan and capitalize the transaction to pay for ongoing carrying costs and lease the Property to stabilization.
Proof of concept is demonstrated by a nearby building which was recently completed, leased to 100% occupancy and then sold. The location has traditionally been difficult to develop, creating positive supply/demand fundamentals, and is ideally located to access the New York/New Jersey market as well as New England.
The Sponsor is a joint venture between the dedicated real estate platform of a global alternative investment manager, and a real estate development firm with experience developing Class A industrial and the New York Metropolitan area.
