Vella Group Secures $10 Million Refinance Bridge Loan From KSEYE USA For Industrial Asset In Chicago
1300 Bowes Road
$10,000,000
$155/SF
Building Size
64,400 SF
Asset Type
Industrial
Closing
May 7, 2025
AI
The property asset involved in this transaction is an industrial facility located at 1300 Bowes Road in the Chicago market. The asset encompasses a total square footage of 64,400 and is categorized as industrial. The loan amount associated with this transaction is $10,000,000, which is a refinance loan structured as a bridge loan.
Summary of transation details:
- Property Type: Industrial
- Transaction Amount: $10,000,000
- Lender: KSEYE - USA
- Landlord: Vella Group
- Landlord's Representative: Jeff Feldman - Mount Duke Capital; Israel Leiner - Walker & Dunlop
- Loan Type: Refinance
- Loan Terms: Bridge Loan
The deal features notable individuals and companies, with Jeff Feldman representing the landlord through Mount Duke Capital, while Israel Leiner represents the landlord via Walker & Dunlop. These representatives played a crucial role in executing the refinancing of the property asset.
Players
Elgin Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93