CBRE has secured a $13.5 million construction loan for the development of a 39,600-square-foot light industrial warehouse in Billings, Montana. The facility will be located on 9.77 acres in a thriving regional light industrial district and feature an impressive 32-foot clear height.
The financing was arranged by CBRE’s Capital Markets Debt and Structured Finance team, led by Bob Ybarra, Bruce Francis, Shaun Moothart, Doug Birrell,Nick Santangelo,and Jim Korinek.The team negotiated a participating construction and permanent loan with an attractive fixed interest rate of 5.75% on behalf of their client.The building is expected to be occupied by one long-term tenant upon completion.
“We are pleased to announce the successful financing for this last-mile industrial property in Montana,” said Mr.Ybarra.”Our ability to secure funding for over 80%of the total project cost through a participating loan at such favorable terms demonstrates our expertise in navigating complex deals.”
This latest achievement further solidifies CBRE’s position as one of the top commercial real estate firms providing innovative financial solutions across various markets nationwide.
