Matthew Bowker Of Lodge Financial Secures $7.5M Refinance Loan For Illinois Trucking Company
$7,500,000
$150/SF
Building Size
50,000 SF
Asset Type
Industrial
Closing
Apr 23, 2026
AI
An industrial asset involving a refinance loan for a trucking company located in Illinois, covering a total of 50,000 square feet has been noted. The financing transaction was handled for a total refinancing amount of $7,500,000.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $7,500,000
- Loan Type: Refinance
- Loan Terms: 25 years
- Lender: Somercor & Celtic Bank
- Broker: Matthew Bowker - Lodge Financial
This refinance was a 504 SBA loan that enabled the trucking company to take out a construction loan, while also providing the owners with $2 million in working capital.
Players
Market 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
2.12%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93