Craig Erdmier Secures $96.7 Million Loan From Bank OZK For Rockford Industrial Properties

The transaction involves three industrial properties located in Rockford, Illinois, totaling over 650,000 square feet. The properties consist of two stabilized build-to-suit facilities for a global pharmaceutical services provider and a third facility, measuring 155,000 square feet, that is currently under construction. A loan of $96,700,000 was secured for this acquisition, with structured financing featuring a three-year term and a non-recourse condition.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $96,700,000
• Lender: Bank OZK
• Landlord: Craig Erdmier
• Brokers: Frank Montalto & Ethan Splan - Institutional Property Advisors
• Loan Terms: three-year, non-recourse
• Market: Rockford

Frank Montalto and Ethan Splan represented the borrower, general contractor Craig Erdmier, during this transaction. IPA Capital Markets arranged the financing, facilitating a pivotal investment in the industrial sector, emphasizing the collaboration among the involved parties.