Martin Siegel of Wool Finance Partners has arranged $3.45 million in financing. The two separate transactions were for logistics-related industrial properties along the I-55 corridor.
A $2.75 million, non-recourse loan was secured by a 55-door truck terminal and maintenance facility on a five-acre site that is 100 percent leased to a multi-state logistics operator. The lender, a regional bank, structured a conventional mortgage for the real estate with a six-year term and 25-year amortization, and fixed-rate 4.90 percent.
A $700,000, partial-recourse loan was secured by a 3.5-acre, 82-space, fence-enclosed overnight truck parking facility that is 100 percent leased to a Chicago-based trucking company. The lender, a community bank, structured a conventional mortgage for the real estate with a three-year term, 25-year amortization, fixed-rate of 4.9 percent and limited 25 percent recourse.
