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Chicago & Midwest  + Midwest  + Finance  | 

iBorrow Arranges Financing on Manufacturing Facilities in Michigan and Indiana

iBorrow, a nationwide private direct lender for commercial real estate, has provided a $13.5-million loan collateralizing two fully leased single-tenant industrial properties, one in Alma, MI and a second in Munster, IN. The two manufacturing facilities total 301,000 square feet and are leased to reputable tenants in the automotive and heavy gauge industries. 

According to iBorrow’s CEO Brian Good, the loan was structured to help the undisclosed borrower refinance $12 million in existing debt on the portfolio, as well as recapitalize the ownership structure by allowing the borrower to buy out an equity partner. 

“While the sponsor had a fast-approaching hard deadline, iBorrow was able to quickly complete the underwriting process and close the loan in just three weeks,” said Good. “We ultimately provided a customized financing solution to meet the borrower’s tight timeline in a unique situation.” 


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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 13-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 15-20 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 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).