iBorrow Closes Refinance of Four-State Industrial Portfolio

iBorrow Closes Refinance of Four-State Industrial Portfolio

iBorrow, a Los Angeles-based commercial real estate lender, recently announced the successful closing of a $46.58 million refinancing deal for an institutional fund’s 2,166,600-square-foot industrial portfolio. The properties included in the collateral pool are located across New York, South Carolina, Alabama and California and maintain an impressive average occupancy rate of 91.2%.

According to Brian Good, managing partner at iBorrow and expert in private direct lending for CRE borrowers facing loan maturities: “The current state of the commercial real estate market has significantly shifted over the past year and a half. As such,” he continued,”private direct lending is becoming increasingly crucial as an option for borrowers.” In fact,”$2 trillion worth of CRE debt is set to mature within just two years.”

Good also noted that this particular borrower was highly experienced with a strong track record but required quick and flexible funding solutions – which iBorrow was able to provide through their unique structure that includes release provisions.

This transaction was completed alongside Walker & Dunlop’s Riley Manke and Andrew Westling.

The article titled “iBorrow Closes Refi of Four-State Industrial Portfolio” originally appeared on Connect CRE.

About the Publisher:
Steve Griffin is based in sunny Palm Harbor, Florida. He’s an accountant by profession and the owner of GRIFFIN Tax and REVVED Up Accounting. In addition, Steve founded Madison Avenue Technology. With a strong passion for commercial real estate, he’s also dedicated to keeping you up to date with the latest industry news.

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