• Multifamily •
Office • Retail • Single
Philipsborn Company provided a highly leveraged,
forward, long term fixed-rate permanent loan commitment
of $5,640,000 for this approximately 42,000 square
foot pre-leased single-story, single-tenant office
building. The developer’s site was too large
and the excess land was to be sold to offset development
costs. The Philipsborn Company arranged for construction
financing of $5,640,000 against the forward commitment
and then additional interim funds to partially
fund the excess land costs. Finally, the Company
arranged for the equity funds needed to balance
the construction costs and excess land costs.
All three pieces of the financing came together
simultaneously to meet the developer’s financial
needs and allow for the timely delivery of finished
space for the tenant.
Philipsborn Company structured a $2,900,000 interim/miniperm
loan that refinanced the existing indebtedness
and provided additional funds for tenant improvements
and leasing commissions for this two-story, 29,000
square foot, multi-tenanted medical office building.