REBusinessOnline

Don’t Buy into the Hype – Beware of the “Yes” Originator

With a strong commercial real estate market nationwide, many originators are under increased pressure to say "yes" to financing terms and conditions that they would shy away from in a less competitive lending environment. "I don't see the frenzy dying down anytime soon, with at least one to two more years of fairly intense competition," says Tim Madigan, a commercial loan originator for Alliant Credit Union. With more than 15 years of experience as an underwriter before moving to loan …

Alliant Provides $12.5M Refinancing for Parking Facility at Baltimore-Washington International Airport

LINTHICUM HEIGHTS, MD. — Alliant Credit Union has provided a 10-year, $12.5 million loan to refinance a remote airport parking facility at Baltimore-Washington International Airport. The 850,852-square-foot site includes 2,156 parking spaces and is located less than one mile from the main terminal building at the airport. The facility is privately owned and managed. The name of the borrower was not

How Artificial Intelligence Benefits Commercial Real Estate Investors

Advances in artificial intelligence and machine learning are slowly changing the processes of buying and selling commercial real estate. Although widespread adaptation appears to be several years off, the application of new technology within commercial real estate appears inevitable and of enormous value. In particular, the opportunity appears greatest within the realm of property valuations, according to David Mitchell, business intelligence and operational specialist with Chicago-based …

Alliant Credit Union Provides $26M Refinancing for New Office Building in Charlotte

CHARLOTTE, N.C. — Alliant Credit Union has provided a $26 million loan for the refinancing of a 120,000-square-foot office building in Charlotte’s Arysley submarket. According to the Charlotte Business Journal, the property, known as One Silver Crescent, opened in February and is fully leased to Jeld-Wen, a window and door manufacturer. The name of the borrower was not

Credit Unions: An Overlooked Source for Commercial Real Estate Loans

Credit unions may not be top of mind for commercial real estate investors seeking financing. In fact, many people do not realize that these lending institutions offer commercial financing alongside a variety of consumer and residential loans. These not-for-profit organizations fundamentally operate to serve their members, typically by providing attractive yields on depository accounts and by offering lower interest rates on vehicle loans, mortgages, and yes, commercial loans. As a …

Alliant Provides $3.5M Refinancing for Industrial Property in Plymouth, Michigan

PLYMOUTH, MICH. — Alliant Credit Union has provided a $3.5 million loan for the refinancing of a 41,400-square-foot industrial property in Plymouth, about 25 miles west of Detroit. The research and development property is located within Metro West Technology Park. The 10-year loan features a 25-year amortization schedule. Chris Charboneau of Walker & Dunlop arranged the loan. The borrower was not

Alliant Credit Union Closes $9M Refinancing for Office Property in Portland

PORTLAND, ORE. — Alliant Credit Union has closed a $9 million refinancing for a newly constructed office property located in Portland's Eastside submarket. The loan replaces the construction financing. The 33,351-square-foot property features energy-efficient construction, which is expected to result in LEED Platinum certification. Prior to the receipt of certificate of occupancy, the property was 95 percent pre-leased. The borrower was not disclosed. Casey Davidson of HFF referred the …

Alliant Credit Union Closes $14.6M Refinancing for Industrial Property in Chandler, Arizona

CHANDLER, ARIZ. - Alliant Credit Union has arranged a $14.6 million loan for the refinancing of an industrial property located in Chandler. The property features 162,714 square feet of distribution space. The undisclosed sponsor had recently closed with a higher interest rate bridge loan and was seeking a low-leverage transaction to replace that debt. Alliant structured the 10-year loan with a 30-year amortization schedule and two years of interest-only

Alliant Credit Union Funds $6.4M Refinancing for Industrial Property in Charlotte

CHARLOTTE, N.C. — Alliant Credit Union has provided a $6.4 million loan for the refinancing of an industrial building located at 8825 Statesville Road in Charlotte. Alliant closed the 10-year loan with five years of interest-only payments and a 30-year amortization schedule on behalf of the borrower, RU 8825 Statesville Road Charlotte NC LLC. The 64,637-square-foot building serves as a research and development facility for Husqvarna North America, a producer of outdoor power equipment. The …

Alliant Credit Union Closes $8M Refinancing for Student Housing Community in San Marcos

SAN MARCOS, TEXAS — Chicago-based Alliant Credit Union has closed an $8 million loan for the cash-out refinancing of Treehouse Apartments, a 138-unit student housing community serving Texas State University in San Marcos. The property is located within a mile of campus and features amenities such as a pool, picnic area, coffee bar and on-site laundry facilities. The loan features a 25-year amortization schedule and three years of interest-only payments. The borrower was not

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