Strategic funding of a 100% occupied distribution center with an expiring tenant and a mark to market opportunity via a fully executed credit tenant lease.
Longline Financial originated a $41.5mm loan for the acquisition and repositioning of a 458,000 SF, fully occupied industrial distribution center in Solon, OH, within the Cleveland MSA. Loan proceeds were used for the acquisition, renovation, and future tenant buildout in order to position the asset for an incoming credit tenant.
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