Port Washington, New York
W Financial has provided a $9,000,000 first mortgage and leasehold mortgage bridge loan collateralized by a 186,000 square foot retail center located on Shore Road in Port Washington, Long Island, NY. The borrower needed to close on the property expeditiously as he was buying it through an auction. The site has strong credit tenants including Target and Walgreens. The borrower plans to refinance W Financial’s bridge loan upon stabilization of the center.