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Byline Bank Provides $12M for BJ’s Wholesale Retail Property
Chicago-based Byline Bank’s Commercial Real Estate Group (BCREG) has closed on $12 million in financing for the construction of a 99,825-square-foot retail building in Maryville, Tennessee, fully leased to the warehouse retailer BJ’s Wholesale Club, Inc. The borrower is an affiliate of the New York-based developer Time Equities, Inc.
This loan, the seventh transaction Byline has financed for Time Equities and its affiliates, is enabling the full revitalization of a once-vacated mall in Maryville. Byline’s existing relationship with Time Equities enabled a more flexible funding arrangement, in which BJ’s Wholesale Club will be responsible for the schedule and construction of the facility. Byline was represented in this transaction by the law firm Duane Morris LLC.
“We are excited to support another Time Equities transaction while furthering BCREG’s strategy of building lasting relationships with best-in-class sponsors,” said John M. Barkidjija, Executive Vice President of Byline’s Commercial Real Estate and Specialty Finance Group.
