OAK BROOK, Ill.--(BUSINESS WIRE)--Inland Bank and Trust (“Inland Bank”) is pleased to announce the closing of an $11,000,000 loan for the refinancing of a 121,949-square-foot industrial facility in Kenosha, Wisconsin.
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.
At the time of closing, the property was 100 percent occupied by an investment-grade quality tenant with approximately 6.5 years remaining on its current lease term.
“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.”
About Inland Bank and Trust
Inland Bank and Trust, a subsidiary of Inland Bancorp, Inc., has locations in Chicago, Countryside, Elmhurst, Geneva, Glen Ellyn, Hawthorn Woods, Hillside, Lake Zurich, Lombard, Morton Grove, Villa Park and Wheeling. Inland Bancorp, Inc. holds over $1.2 billion in bank assets.