Northmarq Secures $25.3M Construction Financing for Bourbon Barrel Storage Facility in Shelbyville, Kentucky

by John Nelson

SHELBYVILLE, KY. — Northmarq has secured $25.3 million in financing for the construction of the first two phases of a bourbon barrel storage facility in Shelbyville. Randall Waddell of Northmarq’s Louisville office arranged the fixed-rate loan through a Kentucky-based bank on behalf of the borrower, a joint venture between The Spirits Group and K-RAX. The loan carries a five-year term with three years of interest-only payments followed by a 25-year amortization schedule. Upon completion, the development, situated on 107 acres at 2517 Vigo Road will feature seven rickhouses — each of which will have capacity for 19,800 barrels — and one blending/bottling building.

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