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KeyBank Secures CMBS Loan on OH Industrial
KeyBank Real Estate Capital (KBREC) secured a $17.6-million fixed-rate CMBS loan for I3 Investors, an Indianapolis-based private real estate investment firm, to acquire an industrial portfolio in Wilmington, OH, about an hour southwest of Columbus.
Built in 1990, Progress Park is a 615,000-square-foot warehouse and distribution facility. The largest tenants are G&J Pepsi-Cola Bottlers and Greencore USA.
The loan is structured with a 10-year term with a three-year, interest-only period followed by a 30-year amortization schedule. Jake Proctor of KBREC’s Commercial Mortgage Group structured the financing.
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing
- ◦Sale/Acquisition