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.