The company purchased the new site to consolidate its operations into one locations, officials say. On-Site is leasing several different properties with its corporate headquarters now at 1111 North 19th St. in Arlington.
First Union National Bank is financing the purchase. On-Site borrowed $5.8 million with the property as security. The loan is to be re-paid over a seven-year period, with a 15-year amortization, at an interest rate of LIBOR plus 2.5 points, and may be pre-paid without penalty. On-Site will soon be acquired by US Technologies. Terms are on file with the SEC.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
