iBorrow, a Los Angeles-based commercial real estate lender, recently finalized 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 with an average occupancy rate of 91.2%. This transaction was completed in partnership with Walker & Dunlop’s Riley Manke and Andrew Westling.
According to Brian Good, managing partner at iBorrow: “The current state of the commercial real estate market has led to private direct lending becoming an increasingly important option for borrowers facing loan maturities.” He also noted that there is approximately $2 trillion worth of CRE debt expected to mature within the next two years.
Good further explained that this particular borrower is highly experienced and required a quick and flexible funding solution. One unique aspect of this deal is its structure which includes release provisions allowing the sponsor to comfortably exit each property while supporting successful execution of their full-cycle business plan.
This successful refinancing showcases iBorrow’s expertise as well as their ability to provide tailored solutions for complex transactions in today’s evolving CRE market.
