Deal Summary
INSIGNIA arranged $892,685 of bridge financing for the refinance of an owner-occupied commercial property of approximately 11,000 square feet in Wheeling, Illinois.
| Item | Detail |
|---|---|
| Transaction type | Owner-user bridge refinance with cash-out |
| Property | Owner-occupied commercial building, approximately 11,000 square feet on approximately 2.64 acres |
| Location | Wheeling, Illinois 60090 |
| Total financing | $892,685 |
| Term | 12 months |
| Borrower structure | Single-purpose property-owning entity leased to the operating company |
| Capital source | Proprietary capital |
The Transaction
The sponsor owns an operating business that occupies the property under a lease from a single-purpose real estate entity. INSIGNIA arranged a short-term bridge loan that retired the existing bank debt, approximately 40% of the proceeds, and returned the balance to the sponsor.
Capital Structure
| Item | Detail |
|---|---|
| Loan amount | $892,685 |
| Structure | Bridge refinance with cash-out |
| Term | 12 months |
| Capital source | Proprietary capital |
INSIGNIA
INSIGNIA arranged the financing, including structuring the request, selecting the capital source and coordinating the process through closing. Owner-occupied commercial real estate is a core part of our practice, and bridge capital is one of several solutions we use when speed or flexibility matters for our clients’ CRE financing needs.
This summary describes a closed transaction for informational purposes and is not an offer of financing or a statement of current pricing, which varies with market conditions, property type, sponsor credit and program requirements.
