Institutional Property Advisors (IPA) recently announced the successful financing of a Class A, four-story office property located at 200 Wildwood Parkway in Homewood, AL. Jordan Ray, executive managing director of capital markets in 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 presented by this deal: “Financing an office deal remains difficult in today’s market; however 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 is home to tenants such as Wells Fargo, Coca-Cola Truckworx SEES and Children’s Hospital of Alabama.
