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BROOMFIELD, COLO. — Ready Capital has closed a $14 million refinancing for an industrial property located in Broomfield. The undisclosed sponsor will use loan proceeds for capital expenditures and tenant costs needed to lease up the 140,000-square-foot, Class A asset.
The non-recourse, interest-only loan features a floating rate, 36-month term, two extension options and flexible pre-payment. Additionally, the financing includes a facility to provide future funding for capital expenditures and tenant leasing costs.