CBRE, a leading commercial real estate firm, has successfully arranged two loans totaling $66 million to refinance two industrial portfolios in the Charlotte metropolitan area of North Carolina.
The deals were led by Brian Linnihan of CBRE Capital Markets’ Debt & Structured Finance team in Atlanta. Representing CIP Real Estate, Linnihan secured a $35 million loan through HIMCO and a $31 million loan through a national bank.
The larger loan was used to refinance International Corporate Center, an industrial project consisting of six buildings located in Concord. The property also includes the construction of two additional buildings totaling 147,467 square feet. Situated near the intersection of International and Corporate drives, this project spans 200,831 square feet (excluding new development) and is currently home to 12 tenants with an occupancy rate of 92%.
In addition to this refinancing deal for International Corporate Center, CBRE also secured a $31 million loan for CIP’s acquisition of another industrial portfolio in Charlotte. This seven-building portfolio comprises three different developments spanning over 334
