Libitzky Property Cos Refinances Industrial Campuses In Tempe With $30M Loan

Located in Tempe, AZ, the industrial asset consists of four adjacent campuses at 1805 West Drake Drive, 7160 South Harl Avenue, 1819 West Drake Drive, and 1849 West Drake Drive, with a total size of 298,324 square feet. The properties were part of a refinancing deal involving a loan amount of $30,000,000 provided by Lincoln National Life Insurance Co.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $30,000,000
• Market: Tempe, AZ
• Lender: Lincoln National Life Insurance Co
• Landlord: Moses Libitzky - Libitzky Property Cos
• Brokers: Joe Foley & Tony Kaufmann - Gantry

Moses Libitzky of Libitzky Property Cos served as the landlord for the industrial campuses, securing two eight-year loans totaling $30 million from Lincoln National Life Insurance Co. The brokers involved in the deal were Joe Foley and Tony Kaufmann from Gantry. The financing arrangement included partial interest-only payments and prepayment flexibility, enhancing the financial structure of the transaction.