Gyrodyne subsidiary extends loan with SIG CRE 2023 Venture to October 2031
GYRO•Gyrodyne subsidiary GSD Cortlandt extended its loan with SIG CRE 2023 Venture to October 10, 2031. The loan carries a 7.28% annual interest rate, with $4.04 million in principal outstanding after a $431,411.38 paydown.
1. Loan extension terms
GSD Cortlandt extended its loan with SIG CRE 2023 Venture by five years under an agreement dated October 19, 2026, effective October 10, 2026. The originally $4.95 million loan has a reset annual interest rate of 7.28%; after a $431,411.38 paydown, outstanding principal was $4.04 million following the scheduled principal and interest payment. Gyrodyne reaffirmed its limited guaranty and environmental indemnity obligations.
