Welbic LLC has purchased 15 industrial properties from Venture One Real Estate, for approximately $50 million. The properties total roughly 900,000 square feet of buildings located from Kenosha, Wisconsin to Alsip, Illinois. There are 22 tenants that occupy the 15 buildings.
The Welbic portfolio is managed and leased by Darwin Realty.
Matthew Lewandowski, vice president of Darwin Realty, worked with Venture One Real Estate on the purchase. Erin Cibula, director of asset management of Darwin Realty, and Matthew Lewandowski, vice president of Darwin Realty, worked with Gabriel Silverstein, SIOR of Angelic Real Estate, LLC in New York, to secure an approximate $100 million loan which covered the 15 Venture One buildings plus 26 industrial properties already owned by Welbic. Gabriel Silverstein is the current President of the New York City Chapter of the Society of Industrial and Office Realtors (SIOR).
Doug Banzuly, Keith Plummer, and Paul Mokhatas of Wells Fargo and Company-Chicago Commercial Banking also assisted Erin Cibula and Matthew Lewandowski in securing the financing. Morrison Street Capital, with offices in Portland, OR and New York, provided a mezzanine loan on the project. Attorneys for Welbic are Ryan Potts and Matthew Brotschul of Brotschul Potts, LLC in Chicago. Cushman Wakefield of Chicago listed the portfolio on behalf of Venture One.
