Darwin Investment Group announced the completion of a $130 million refinancing of a 39-building industrial portfolio totaling more than 2 million square feet across the greater Chicago area and Southeast Wisconsin. The financing was provided by a dedicated Middle Market Real Estate team within Wells Fargo Commercial Banking.
In conjunction with the refinancing, Darwin Investment Group principals George Cibula and Matthew Lewandowski acquired the 49% ownership interest held by their partners, bringing Cibula and Lewandowski’s ownership of the 39-building portfolio to 100%.
The portfolio consists of 39 industrial properties extending from Chicago’s south suburbs through Southeast Wisconsin and is home to more than 225 tenants, providing significant diversification across tenants, industries and industrial submarkets.
“The completion of this transaction represents an important step for Darwin Investment Group and reflects our long-term conviction in the Chicago industrial market,” said Matthew Lewandowski. “Consolidating ownership gives George and me the ability to continue investing in these properties while maintaining the long-term, hands-on ownership approach that has been central to how we operate.”
The refinancing and ownership consolidation were facilitated on behalf of Darwin Investment Group by Matthew Lewandowski, Erin Cibula and Patricia Liston, working closely with Wells Fargo Commercial Banking’s Middle Market Real Estate team to complete the transaction. The Wells Fargo deal team was led by Commercial Banking Leader Paul Mokhatas, Senior Relationship Manager Anu Agarwal, and Portfolio Management Manager Paul Crusen.
