Skokie, Illinois-based Lodge Financial has arranged financing for a multi-property industrial portfolio. The $4,100,000, cash-out refinance deal had a 75 percent LTV, seven-year term and 25-year amortization. The partial recourse financing had a 4.34 percent fixed rate.
The financing applied to two properties, one in Burr Ridge, Illinois and the other in Menomonee Falls, Wisconsin. The Burr Ridge facility is a 41,000-square-foot, multi-tenant building with 18-foot clearance ceilings. The Menomonee Falls building was constructed in 1988 and has 50,300 square feet of single-tenant space.