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ARLINGTON, WASH. — iBorrow, a nationwide private direct lender for commercial real estate, has funded a $10.2 million loan for an industrial building in Arlington, approximately 45 miles north of Seattle.
The borrower group plans to use the proceeds to fund the value-add component of the property. The 244,590-square-foot property, which features 16,108 square feet of office space, was 84 percent leased at the time of financing.