First Columbia has recently secured refinancing for a portion of its Century Hill Plaza in Latham, one of the area’s premier office complexes. The Bank of Greene County provided the $18 million dollar loan, with Pioneer Bank supporting as a participant.
LATHAM, N.Y. (Feb. 11, 2025) — Regional Developer First Columbia has secured refinancing for a portion of its Century Hill Plaza in Latham, one of the area’s premier office complexes. The Bank of Greene County provided the $18 million dollar loan, with Pioneer Bank supporting as a participant.
“Helping First Columbia refinance its Century Hill Plaza enables the Bank of Greene County to make a long-term investment in the success of the Capital Region economy and continue to assist the communities we serve,” said Bank of Greene County Vice President Robert Agostinoni, the lender who worked on this deal.
Chief Lending Officer John Antalek said: “The Bank of Greene County is excited to partner with First Columbia, one of the Capital Region’s premier sponsors, and we look forward to working with them on other projects in the future.”
“The park’s strong performance can be attributed to the ‘flight to quality’ that is playing out across the nation for office space. The layout of our tenants’ spaces has changed drastically,” said First Columbia Vice President of Real Estate Kevin Prunty. “Our tenants are looking for professional buildings with nice fit-ups and good management. Having a centralized location along with amenities are helping companies attract the best talent. This attractive refinancing validates the commitment we have made to the buildings and the growth we’ve seen in the market here.”
Developed by First Columbia in 2000, Century Hill Plaza hosts several Fortune 100 companies as well as prominent local office and medical tenants. The highly sought after office park maintains a 95 percent long-term occupancy rate, comparing favorably to the average local and national rates for suburban office space of 88 percent and 82 percent. Century Hill Plaza owes its success in part to its location in Latham, one of the fastest growing areas in the Capital Region.
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