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 properties with an impressive track 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 quickly.
Built in 1950 and renovated last year, this 27.24-acre facility is comprised of five buildings housing eight tenants total; Brian Good – CEO at iBorrow – commented that “We are witnessing a national shift in lender behavior as traditional lenders reduce their volume of lending; private lenders like iBorrow are more relevant than ever to fill this funding gap”
This successful closing demonstrates how well positioned iBorrow is to provide financial solutions for commercial real estate projects throughout the United States
