Scott Gibbel Of Curtis Ashton Partners And Burnham Industrial Partners Obtain $13.5M Loan For Industrial Complex In Bridgeview

The transaction involves an industrial asset consisting of three buildings located at 7705, 7715, and 7723 78th Avenue in Bridgeview, IL, encompassing a total area of 17 acres. The loan amount for the acquisition of this property is $13,500,000 with a loan term of 7 years.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $13,500,000
• Address: 7705, 7715 & 7723 78th Avenue
• Market: Bridgeview, IL
• Asset Area: 17 acres
• Lender: Correspondent Life Insurance Company
• Landlord: Scott Gibbel - Curtis Ashton Partners; Kevin Randolph & Alan Lagunov - Burnham Industrial Partners
• Brokers: Dan Freedman & Chris Beck - Draper and Kramer
• Loan Type: Acquisition
• Loan Terms: 7-year

Draper and Kramer’s Commercial Finance Group was responsible for arranging this acquisition loan as part of a larger arrangement involving two loans totaling $27.5 million, which also included a $14 million bridge loan for a multifamily property in Chicago’s Edgewater neighborhood. This bridge loan has a two-year initial term with a three-year extension option.