iBorrow, a nationwide private direct lender for commercial real estate, has provided a $16.4 million loan secured by a 730,000 square-foot flex, office, industrial, and warehouse facility, comprised of six separate buildings. The proceeds of the iBorrow loan will be used to refinance an existing loan and fund tenant improvements for the property.
Brian Good, iBorrow CEO, said, “Milwaukee is an important and growing market and a gateway city in its region. Favorable in-market demographic and development trends support the need for additional office and industrial inventory. In this context, the business plan of our borrower makes a lot of sense and we were able to structure our loan at what we believe to be an attractive basis.”