Progress Park
Overview
| Deal Type | CMBS |
|---|---|
| Size |
$17.6 Million Acquisition |
Our Role | Lender |
Summary
KeyBank Real Estate Capital (KBREC) secured a $17.6 million fixed-rate CMBS loan for I3 Investors, an Indianapolis-based private real estate investment firm, to acquire an industrial portfolio in Wilmington, Ohio.
Built in 1990, Progress Park is a 615,000-square-foot, warehouse and distribution facility. The largest tenants are G&J Pepsi-Cola Bottlers and Greencore USA.
The loan is structured with a 10-year term with a three-year, interest-only period followed by a 30-year amortization schedule.
