Deal Summary
INSIGNIA arranged $500,000 of acquisition financing, including capital expenditure and tenant improvement funding, for a 20,000 square foot industrial property operated as a cannabis facility in Waukegan, Illinois.
| Item | Detail |
|---|---|
| Transaction type | Investor acquisition with capital expenditure and tenant improvement funding |
| Property | Industrial warehouse operated as a cannabis facility, 20,000 square feet on 1.19 acres, built 1955 |
| Location | Waukegan, Illinois 60087 |
| Total financing | $500,000 |
| Loan structure | Renewable term loan |
| Borrower | Investor |
The Transaction
The borrower, a real estate investor, acquired a single-tenant industrial building operated as a cannabis facility. Many lenders do not participate in cannabis-related real estate, so INSIGNIA arranged a renewable term loan that funded the acquisition along with capital expenditures and tenant improvements.
Capital Structure
| Item | Detail |
|---|---|
| Loan amount | $500,000 |
| Use of proceeds | Acquisition, capital expenditures and tenant improvements |
| Structure | Renewable term loan |
INSIGNIA
INSIGNIA arranged the financing, including structuring the request, selecting the capital source and coordinating the process through closing. Special-use and owner-occupied commercial real estate is a core part of our practice, and we place financing across property types using the capital source that fits the borrower and the asset.
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.
