iBorrow, a nationwide private direct lender for commercial real estate, recently closed a $15.65 million loan to refinance a 238,575-square-foot cold storage industrial facility in Taylor, Michigan. The borrower is an experienced national industrial real estate firm that specializes in the acquisition and management of manufacturing and distribution facilities across the United States.
The borrower acquired the property at a lower occupancy level earlier this year and has since made substantial improvements to achieve its current 100% occupancy rate. This transaction with iBorrow will not only recapitalize the existing financing structure but also provide additional funds for further improvements onsite.
“At iBorrow we are committed to providing reliable funding solutions throughout our clients’ investment cycles,” says Brian Good, CEO of iBorrow “Our strong financing capabilities combined with consistent risk management practices make us well positioned as an ideal source of capital.”
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