Hope Center Realty Operations Associates LLC borrows $13M from M&T Bank for property in Highbridge

Hope Center Realty Operations Associates LLC as borrower signed a loan agreement with lender M&T Bank valued at $12.6 million for 3 parcels, including the tax class unlicensed parking lot (G7) at 1400 University Avenue, 1407 University Avenue, 1401 University Avenue in Highbridge. The deal closed on November 8, 2019 and was recorded on November 13, 2019.
The property has 67,618 square feet of available development rights.
The average loan per buildable square foot is $187.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link