Latest Transaction


Location

Mundelein, IL Lake Bluff, IL

Property Type

Flex Industrial Properties

Loan Type

First Mortgage

Amount

$4,750,000

Need:  The Sponsor was needing to refinance two flex industrial properties and acquire a third property as well.

Solution: Verus Commercial Real Estate Finance was able to structure an 18-month loan that was funded in two sperate tranches, with the first loan paying of the existing mortgage on two properties, provide Capex for one and provide a deposit for the acquisition.  The second funding was to complete the acquisition, fund a Capex reserve and cover remaining closing costs.

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