Business

Inland Bank closes $11 million loan in Wisconsin

Posted November 20, 2019 12:00 am

OAK BROOK - Inland Bank and Trust recently closed on an $11 million loan for the refinancing of a 121,949-square-foot industrial facility in Kenosha, Wisconsin.

At the time of closing, the property was 100 percent occupied by an investment-grade tenant with approximately 6.5 years remaining on its current lease term.

Chris Metcalf, senior vice president - head of commercial lending, and Gia Tomaszewski, assistant vice president -CRE, both with Inland Bank, originated the loan. The financing was structured in collaboration with Douglas Barker and Daniel Nyhan of Chicago-based Mesirow Financial, who represented the property owner in the transaction.

"Inland Bank found this to be an attractive opportunity due to the strong submarket occupancy and local industrial market trends," said Tomaszewski. "The property is well located within reasonable proximity to both employment centers and major roadways, and the surrounding industrial developments are experiencing above average levels of demand."

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