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Byline Provides $10M to Brennan for Industrial Building Acquisition
Byline Bank’s Commercial Real Estate Group (BCREG) closed $10.4 million in financing for a 263,000-square-foot industrial building on 18 acres located in Cincinnati, Ohio. The borrower is an affiliate of Chicago-based Brennan Investment Group.
Byline was represented by the law firm Duane Morris. This loan represents the ninth transaction that Byline has financed for Brennan Investment Group and its affiliates.
“With turbulent debt markets, Brennan turned to Byline to provide short-term acquisition financing. Byline was able to close the loan within the borrower’s tight timeframe,” said John Barkidjija, executive vice president of BCREG. “We are excited to support another Brennan transaction while furthering BCREG’s strategy of building lasting relationships with best-in-class sponsors.”
Headquartered in Chicago, BCREG provides first mortgage construction, bridge and permanent loans secured by properties in the Chicagoland area and nationwide. Brennan also recently acquired seven buildings in Wood Dale, Illinois in Chicago’s O’Hare submarket.
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