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Inland Bank Provides Refi on Wisconsin Industrial
Inland Bank and Trust closed an $11-million loan to refinance a 121,949-square-foot industrial facility in Kenosha, WI. The borrower was not disclosed.
The bank’s Chris Metcalf and Gia Tomaszewski originated the loan. The financing was structured in collaboration with Douglas Barker and Daniel Nyhan of Chicago-based Mesirow Financial, who represented the property owner.
At the time of closing, the property was 100% occupied by an investment-grade quality tenant with approximately 6.5 years remaining on its current lease term.
“Inland Bank found this to be an attractive opportunity due to the strong submarket occupancy and local industrial market trends,” said Tomaszewski. “The property is well located within reasonable proximity to both employment centers and major roadways, and the surrounding industrial developments are experiencing above average levels of demand.”
Separately, the bank announced the opening of a new branch in Wheeling, IL. It’s the 12th Inland branch in the Chicago region.
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- ◦Financing
