Cohen Financial Secures $48.75 Million in Financing for Portfolio of 36 Properties in Chicago Industrial Market

Cohen Financial, a national real estate finance company, announced that the firm has secured $48.75 million in financing for a portfolio of 36 industrial properties, totaling 1,427,730 square feet.  All of the industrial buildings are located across the Chicago metropolitan area.

Cohen Financial secured $48.75 Million non-recourse, seven-year interest only structured loans with pricing based on the seven-year U.S. Treasury for the entire portfolio.  The lender is Prudential Mortgage Capital Company.  The borrower is a joint venture between Value Industrial Partners of Elmhurst, Illinois and Invesco Real Estate of Dallas.  Steve Skok, a Director in Cohen Financial’s Chicago, Illinois office, originated the transactions which closed over the course of several months. 

“This diverse mix of industrial properties, ranging from 10,000 to 100,000 square feet, is 95 percent leased and occupied,” said Skok.  “The portfolio contains a combination of single and multi-tenant buildings, and we were able to close several of the loans in an expedited manner.”

Cohen Financial is a national real estate finance company offering debt and equity placement, investment brokerage, loan servicing and financial advisory services.  The company is recognized as one of the nation’s largest originators of commercial real estate financing, with over $5.1 billion in total transactions in 2005 and over $5.2 billion in loan servicing.  The company has also provided financial advisory services on more than $1 billion of assets.  Cohen Financial serves clients throughout the U.S. through its offices in 10 major markets.