CHARLOTTE, N.C. — CBRE has arranged two loans total $66 million for the refinancing of two separate industrial portfolios in the Charlotte metropolitan area. Brian Linnihan, Mike Ryan, Richard Henry and Taylor Crowder of CBRE Capital Markets’ Debt & Structured Finance team in Atlanta represented the borrower, CIP Real Estate, in both deals.
The loans include a $35 million loan through HIMCO for the refinancing of International Corporate Center, a six-building industrial project located in Concord, N.C., as well as the construction of two industrial buildings at the site totaling 147,467 square feet.
The other deal was a $31 million loan secured through an unnamed national bank for the acquisition of a seven-building, 334,989-square-foot industrial portfolio that was 99 percent leased at the time of funding. The assets in the portfolio include 77 Overlook, a three-building, 216,977-square-foot development in Charlotte; Lakefield Corporate Center, a three-building, 74,920-square-foot development in Mooresville, N.C.; and Southcross Corporate Center, a 43,092-square-foot warehouse in Rock Hill, S.C.