iBorrow, a nationwide private direct lender for commercial real estate, has provided a $6.3 million loan secured by a 132,020 square foot mixed-use retail and office project on the waterfront in Bellingham, Washington (the “Property”). The Borrower is refinancing two existing loans and using the remaining loan proceeds for tenant improvements while leasing up the Property.
Brian Good, iBorrow CEO, said, “This Property is exceptionally well-located in Bellingham. Our loan will refinance the existing loans on the Property and allow the Borrower to offer improvements as a part of the lease up of the retail and office space. We believe this Property will become a core destination for the local community.”