Institutional Property Advisors (IPA) has announced the successful financing of a Class A, four-story office property located at 200 Wildwood Parkway in Homewood, AL. Executive Managing Director Jordan Ray of IPA’s Los Angeles office and James Matheny and Rachael Krawiecki from IPA’s Manhattan office secured the $11.5 million refinancing for their client.
Ray commented on the challenge of financing an office deal in today’s environment: “Through our marketing process, we were able to structure a fixed-rate permanent loan with interest only payments and prepayment flexibility that met our client’s needs.”
The 21 acre property outside Birmingham is home to tenants such as Wells Fargo, Coca-Cola Truckworx SEES and Children’s Hospital of Alabama. With this new refinancing package arranged by IPA experts, these tenants can continue operations without disruption or worry about financial stability going forward.
