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Maverick Closes Financing on Offices Near Purdue U.
Maverick Commercial Mortgage has arranged the financing for the International Technology Center in West Lafayette, IN. The firm’s Benjamin Kadish arranged the $7,075,000 first mortgage bridge loan on the property at 1330 Win Hentschel Blvd.
The 6.15-acre site is improved with a 75,099-square-foot office building. Its immediate neighborhood is considered to be Purdue Research Park, just north of Purdue University’s main campus. A space currently used as a basketball court will be converted to office space, with opportunities for users of 500 to 24,000 square feet.
The non-recourse loan on 1330 Win Hentschel, provided by a national lender, had an initial funding and future funding. The initial funding paid for the refinance of existing debt on the property and closing costs, while the future funding paid for lender approved construction costs, tenant improvement costs, and leasing commission costs related to the conversion of the basketball court to office space.
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- ◦Financing
