Thrivent Provides $20.5M Loan for Refinancing of Distribution Buildings in Easton, Pennsylvania
EASTON, PA. — Life insurance company Thrivent Financial has provided a $20.5 million loan for the refinancing of two adjacent distribution buildings in Easton. The buildings range in size from 140,000 to 200,000 square feet, and both feature 32- to 36-foot clear heights, ESFR sprinkler systems and extra parking for vehicles and truck trailers. Proceeds from the fixed-rate, nonrecourse loan will be used to pay off existing construction debt. Shelley Magoffin and Max Sauerman of Bellwether Enterprise arranged the financing on behalf of the borrower, a private REIT based in Southern California.