Walker & Dunlop Arranges $19M in Refinancing for Light Manufacturing Warehouse

by Danielle Everson

ALSIP, ILL. — Walker & Dunlop has arranged a $19 million loan to refinance a 575,000-square-foot light manufacturing warehouse facility in Alsip, 20 miles south of Chicago. The property includes two structures, a single-tenant 250,000-square-foot warehouse/light manufacturing space occupied by Crown Cork & Seal; and a multi-tenant 325,000-square-foot, two-story office building, which is occupied by Crown Cork & Seal Plastipak and GC America. The property was built in 1971. John Pantone led the Walker & Dunlop team that originated the CMBS loan for the borrower, Patriot Equities. The loan was structured on a 10-year term with a 4.8 percent interest rate. Walker & Dunlop Commercial Property Funding provided the loan.

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