Tremont Structures $8,600,000 Financing for Chicago Industrial Property
The Chicago office of Tremont Realty Capital arranged financing for the refinance of Crossroads Parkway, a 269,600 square foot industrial property located in Bolingbrook, Illinois.
Michael Hart, a Senior Director with Tremont, arranged the $8,600,000 loan, which was funded through a pension advisory lender. The three year loan provided for roughly 85% loan-to-cost. The property was 56% occupied by one tenant at the time of closing. According to Hart, “The loan allowed the sponsor, a joint venture between Corum Real Estate and Equibase Capital Group, to refinance the existing lender at a discount and provide the funds needed to lease-up to stabilization.”
For additional information on this transaction,
please contact:
Mike Hart
Senior Director
Email: mhart@tremontcapital.com
Phone: 312.236.1162
