BACK TO CLOSINGS:

Location: Rockford, IL

Loan Amount: $2,000,000

Interest Rate: 5.85%

Term/Amortization: 5/15

Loan to Value: 60%

Purpose:  The loan was used to buyout a minority partner and refinance the existing hard money debt on the property. The loan was secured by a non-owner occupied industrial property in Rockford, IL. The 130,000 square foot manufacturing building was 82% occupied at time of closing.