iBorrow, a nationwide private direct lender for commercial real estate, has closed on a $15.1-million loan secured by a 499,759 square-foot light industrial manufacturing property in Milwaukee. The borrower specializes in industrial property with an established record of stabilizing and operating assets across the U.S., allowing them to refinance their original loan from January 2021 and sell off part of the property.
Built in 1950 and renovated last year, this 27.24-acre facility is comprised of five buildings occupied by eight tenants – making it ideal for investors looking to capitalize on current market conditions through strategic acquisitions or refinancing opportunities like this one. “We are witnessing a national shift in lender behavior,” says Brian Good, CEO of iBorrow.”The banking industry has experienced multiple shocks causing significant disruption; as traditional lenders reduce their volume of lending activities private lenders like iBorrow are more relevant than ever before – well positioned to fill the funding gap.”
