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GTJ REIT secures $39M mortgage loan facility

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GTJ REIT secures $39M mortgage loan facility

GTJ REIT Inc. closed a $39 million, interest-only secured mortgage loan facility with The United States Life Insurance Co. in the City of New York on Dec. 20.

The 10-year loan is secured by four properties in New York, New Jersey and Delaware and bears interest at 3.82% per year. The company may prepay the loan in whole on or after Jan. 1, 2022, subject to certain conditions.