Industrial Midwest

Mission Capital Advisors secures $19.3M financing for eight Chicago industrial properties

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The loans include a $14.4 million bridge loan for six industrial properties, and $4.95 million in acquisition financing for a separate transaction, all of which were arranged by Mission Capital's Gregg Applefield, Alex Draganiuk and Lexington Henn, for Hackman Capital Partners.

The Debt & Equity Finance team of Mission Capital Advisors recently arranged $19.35 million in non-recourse financing for eight Chicagoland properties.

The loans include a $14.4 million bridge loan for six industrial properties, and $4.95 million in acquisition financing for a separate transaction, all of which were arranged by Mission Capital's Gregg Applefield, Alex Draganiuk and Lexington Henn, for Hackman Capital Partners.

A six-property, 906,984-square-foot industrial portfolio of properties located throughout five Chicago metropolitan countries is 89-percent leased, with a a weighted average remaining lease term of three-and-a-half years.

These transactions mark the third and fourth time the firm has worked with Mission Capital to raise capital for the properties, according to Applefield.

Draganiuk said that with vacancy rates in steady decline, the Chicago industrial market is one of the strongest in the country. These strategically located properties have a great deal of upside, he said, and they were able to arrange and extremely strong deal for the sponsor.

The two additional properties, which comprise approximately 195,436 square feet in two adjacent buildings located in Cook County, were acquired by Hackman in a sale-leaseback, with Cenveo Corporation.