NEW YORK, Aug. 03, 2023 (GLOBE NEWSWIRE) — Northpath Investments (“Northpath”), a privately held real estate investment firm headquartered in New York City, is excited to announce the refinancing of 2 and 4 Westchester Park Drive with a $17.5 million loan from Centerville Bank. The buildings have a combined total of 218,372 s/f of rentable space and offer an attractive amenity package including recently renovated lobbies, a café, child care center, state-of-the-art conference facilities, and ample surface parking. Enjoying an occupancy rate of 86.5%, 2 and 4 Westchester Park Drive are home to a diverse tenant mix of traditional office and medical office/healthcare users.
JLL’s Capital Markets arranged a permanent, fixed-rate loan to refinance 2-4 Westchester Park Drive, two adjoining 5-story office/medical buildings. Senior Managing Director Michael Klein and Director Max Custer led the financing team representing the borrowers.
Strategically positioned within the highly sought-after Westchester Avenue corridor, one of the primary office submarkets in the region, 2 and 4 Westchester Park Drive provide exceptional accessibility to Interstates 287 and 87, as well as the Westchester County Airport. Moreover, these properties are conveniently located just two miles from downtown White Plains and are surrounded by an array of desirable amenities, including several newly constructed multifamily communities, a LifeTime Fitness center, Wegmans, and a state-of-the-art pediatric specialty care center.
Gershon Alexander, Principal at Northpath, expressed his enthusiasm for the deal, stating, “This refinancing is a testament to our strategic approach and the value we bring to our investors. We are excited to continue driving growth and creating value in the Westchester County office market.”
About Northpath Investments:
Northpath Investments is a leading privately held real estate investment firm headquartered in New York City. With a focus on the acquisition, development, redevelopment, and management of retail, industrial, and office properties in the Northeast and Mid-Atlantic regions, Northpath Investments has established a strong reputation for excellence. They are committed to creating value for investors, partners, and the communities in which they work and reside. To find out more, please visit: northpathinvestments.com.
Contact: Danielle Harroch
917-202-4986
danielle@northpathinvestments.com
