Capital Development Partners has secured a $23 million construction loan for a 39-acre industrial park in Summerville, located near Charleston. The three-year, 65% leveraged loan will fund the horizontal and vertical construction of the project. Southern States Bank, a full-service community banking institution based in Anniston, Alabama served as the lender for this transaction. Led by Todd McNeill and Sunny Sajnani, an IPA team arranged the financing.
According to McNeill, “This was an excellent opportunity for Capital Development Partners to facilitate a build-to-suit project in Charleston’s dynamic port market.” He also added that CDP did an exceptional job finding a Class A location that met all of their tenant’s needs.
The property will be occupied by Boasso Global – one of the top providers of cleaning services and transportation solutions for tank trailers and containers worldwide.
The article titled “Capital Development Secures $23M for Charleston Industrial Project” was originally published on Connect CRE.
