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Byline Bank Provides $10.4M Acquisition Loan For Cincinnati Industrial Property

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FINANCED
$10,400,000

Ohio

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Industrial263,000 SF
Financed 01/26/2024
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FINANCED

Byline Bank Provides $10.4M Acquisition Loan For Cincinnati Industrial Property

10045 International Boulevard

See Similar Deals
Industrial263,000 SF
Financed 01/26/2024
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Summary

OHIO
Asset Type:Industrial
Price Per Square Foot:$39
Total Square Footage:263,000 SF
Transaction Type:Loan

A $10.4 million financing deal was closed by Byline Bank’s Commercial Real Estate Group for a 263,000-square-foot industrial building located at 10045 International Boulevard in Cincinnati, Ohio. The property, owned by an affiliate of Brennan Investment Group, showcases the strong relationship between Byline Bank and Brennan Investment Group, as it marks the ninth transaction financed by Byline for Brennan.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $10,400,000
  • Square Footage: 263,000
  • Address: 10045 International Boulevard, Cincinnati
  • Market: Cincinnati

Byline Bank’s financing deal demonstrates their ability to provide timely financing in volatile markets and strengthen relationships with top sponsors like Brennan Investment Group. This successful transaction was facilitated by John Barkidjija, the lender from Byline Bank, and Michael Brennan, the landlord from Brennan Investment Group. The broker involved in the deal was Duane Morris LLP.

Players

LENDER

MB
14 deals$744.1M volume
LANDLORD

Details

FINANCED
IMAGE: Michael Brennan & John Barkidjija DATE: 01/26/2024 ADDRESS: 10045 International Boulevard MARKET: Cincinnati ASSET TYPE: Industrial ~ SF: 263,000 ~ ACRES: 18 LENDER: John Barkidjija - Byline Bank (@Byline_Bank) LANDLORD: Michael Brennan - Brennan Investment Group (@BrennanInvestmentGroup) BROKER: Duane Morris LLP (@DuaneMorrisLLP) LOAN AMOUNT: $10,400,000 LOAN TYPE: Acquisition Loan NOTE: Byline Bank’s Commercial Real Estate Group closed a $10.4 million financing deal for a 263,000-square-foot industrial building in Cincinnati, Ohio, owned by an affiliate of Brennan Investment Group. This marks the ninth transaction Byline has financed for Brennan, showcasing their ability to provide timely financing in volatile markets and strengthen relationships with top sponsors like Brennan Investment Group.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$10,400,000.00

Monthly NOI$69,333.33
Monthly Debt Service$65,735.07
Change in Cash Flow$0.00
Refinance Proceeds$0.00