IP Capital Partners Acquires 73 Business Center In Greensboro For $14.3 Million Loan

The asset involved in this transaction is an industrial facility located at 7902 Indlea Point in Greensboro. This property encompasses a total area of 192,154 square feet and has been acquired by IP Capital Partners for a loan amount of $14,300,000. The loan is structured as acquisition financing with terms providing 61% loan-to-cost (LTC) bridge financing, extending over a period of four years with an additional one-year option, featuring full-term interest-only payments.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $14,300,000
• Market: Greensboro
• Asset Size: 192,154 SF
• Landlord: Jason Isaacson, Josh Procacci, Alex Nunner & Brendan McConnell - IP Capital Partners
• Landlord's Representative: Christopher Drew, Michael DiCosimo & Jovi Rodriguez - JLL
• Loan Terms: 61% LTC bridge financing, 4+1 years, full-term interest only

JLL facilitated the acquisition by arranging the financing through a life company vehicle, supporting IP Capital Partners in their successful acquisition of 73 Business Center, a significant industrial facility within the Greensboro, NC MSA.