Alma Velko

Alma, MI & Munster, IN, Industrial Portfolio

Location: Alma, MI & Munster, IN

Loan Amount: $13.5M

Loan Type: Recapitalization/Refinance

Property Type: Industrial Portfolio

Challenge iBorrow Solved:

The iBorrow loan addressed the following issues: (i) refinanced the existing debt on the portfolio ($12MM), and (ii) recapitalized the ownership structure to allow the borrower to buy out an equity partner ($2MM). The greatest challenge of the deal was that the sponsor was under a strict time deadline to complete the transaction. iBorrow was able to quickly complete the due diligence/underwriting process and close the loan in less than 3 weeks.