Realterm adds Bronx properties to existing $72.5M in debt from Regions Bank

Logistics company Realterm through the entity RLF 11 Bassett, LLC as borrower signed a loan agreement with lender Regions Bank valued that extended the existing $72.5 million in debt over two additional parcels. The original parcel was 1502 Bassett Avenue and the new ones are 1538 Stillwell Avenue and another along Bassett Avenue in Parkchester, the Bronx. The deal closed on June 15, 2020 and was recorded on July 17, 2020.
The property has 550,869 square feet of built space and available development rights.

Realterm extended the loan to cover two additional parcels beyond 1502 Bassett Avenue which it acquired in December 2018 for $115 million. The new properties are 1538 Stillwell Avenue and a parcel along Bassett Avenue which it acquired in December 2019 for $5.1 million.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $250,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link