Updated Oct 21, 2026
Darwin Investment Group Secures $130 Million Refinance For Industrial Portfolio In Chicago Market
Industrial Portfolio
$130,000,000
$65/SF
Building Size
2,000,000 SF
Asset Type
Industrial
Closing
Oct 15, 2026
About this deal
AI
An industrial portfolio located in the Chicago and Southeast Wisconsin areas comprises 39 buildings with a total square footage of 2,000,000. The portfolio consists of 225 tenants and has undergone a refinancing transaction.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $130,000,000
- Lender: Charles W. Scharf, Paul Mokhatas, Paul Crusen, Anu Agarwal - Wells Fargo
- Landlord: Matthew Lewandowski, Patricia Liston, Erin Cibula - Darwin Investment Group
- Loan Type: Refinance
Principals George Cibula and Matthew Lewandowski acquired their partners’ 49% stake to achieve full ownership of the industrial portfolio, while Wells Fargo facilitated the refinancing to support this transition.
On the Map
$130,000,000
$65/SF
Industrial
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Players
Indus 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
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93