1025 Old Country Road (1025 OCR), which is a 200,000 square-foot commercial property in Westbury, New York, announced a $14 million senior secured credit facility. The property hosts 1025 Connect, which is a network-neutral Meet-Me Room that is used, in part, for connecting subsea systems to terrestrial networks. The location on Long Istland provides the option of bypassing Manhattan for greater network diversity.
“We are seeing strong demand for our interconnection facility that offers unmatched international carrier connectivity and a unique bypass alternative to New York City,” comments Jeff Wasserman, Owner of 1025 Old Country Road and Chairman of 1025Connect. “This infusion of new capital will support our ability to build inventory and increase capabilities to meet burgeoning customer demand. We will continue to invest in our core infrastructure in order to enhance our platform going forward.”
The senior secured debt financing was arranged by Meridian Capital Group, one of the nation’s largest commercial real estate finance and advisory firms.
