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Logistics Property Co. Closes on $150M Financing for Multi-Story Goose Island Project
Logistics Property Company, LLC (LPC), Wells Fargo Bank, Inland Bank and Trust and Associated Bank have closed on the $150-million construction loan for LPC’s multi-story warehouse in Chicago. The first multi-story industrial project in the city, 1237 West Division will feature 1.2 million square feet of logistics space across two floors and offer both rooftop parking and an adjacent five-story parking garage in the Goose Island neighborhood.
“The relationships that we’ve cultivated over the last 25 years have been paramount to our continued access to the capital markets,” said Katherine Bernstein, SVP – Capital Markets at LPC. “We’re very grateful as our success would not exist without our lenders.”
Central division head Michael Svets and relationship manager Jeff Goodman led the financing for Wells Fargo. The project will have direct loading on the first and second floors, each with a 135-foot truck court.
- ◦Development
- ◦Financing
