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Chicago & Midwest  + Greater Chicagoland  + Industrial  |  October 12, 2020
HSA in Big $1.3 Million-sf Wisconsin Warehouse Build, 3 Spec : Warehouses on 82 Acres
Paul Bubny
By: Paul Bubny

Crescit Closes Bridge Loan on Illinois Industrial

Crescit Capital Strategies closed a $7,765,000 bridge loan for a 535,000-square-foot industrial property in Loves Park, IL. Crescit originated the three-year fixed rate bridge loan which will fund the completion of approved tenant improvement plans for several major tenants.
 
“The COVID-19 pandemic has accelerated the demand for industrial properties in proximity to major metros,” said Joseph Iacono, Crescit Capital Strategies’ CEO. “The sponsor has a strong record of performance adding value to similar properties and presented a compelling business plan, which along with credit-worthy tenants made the transaction an attractive opportunity for Crescit. Crescit remains active and committed to serving its borrowers with their financing needs through these challenging times.” 
 
Just outside Rockford, the Loves Park property is within 100 miles of Chicago, Milwaukee, and Madison. The property includes tenants within the aerospace and general manufacturing sectors.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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