Industrial Warehouse Acquisition

13 January 2024 – POSTED UNDER:

Borrower called on Weds Dec 20th. He had a $100K non-refundable deposit w/ 4 days left to close on a $3.5M industrial warehouse. SBA bank required wind insurance ($200K+/yr), couldn’t find a carrier for various reasons. We funded $2.4M to close the sale on the 30,565 St Ft Industrial property.