Joseph Alexander borrows $16.7M from H&O Capital Funding to buy retail in Highbridge

Joseph Alexander through the entity 1240 Edward Grant LLC as borrower signed an acquisition loan agreement with lender H&O Capital Funding through the entity 1240 El Grant Highway LLC valued at $16.7 million for 1 parcel, including the tax class one-story store building (K1) at 1240 Edward L Grant Highway in Highbridge. The deal closed on December 9, 2020 and was recorded on December 29, 2020.
The property contains a total of 26,000 square feet of built space.
The average loan per buildable square foot is $642.
This is an acquisition loan and includes a $14.1 million gap loan with a 10 percent interest rate, according to the mortgage filing.
Direct link to Acris document. link