Nexseer Provides $36.2MM Financing for Food Manufacturer
JUN 20, 2019 - 6:36 am
Nexseer Capital completed a $36.2 million equipment and project financing for a $3 billion revenue food products manufacturer. The funding included the construction and installation of a frozen food storage facility, FF&E, and tenant improvements essential to complete the project.
Nexseer was able to provide and manage a multifaceted construction funding schedule that involved a substantial amount of “soft collateral” (engineering, design, and installation services) to complete the project.
W. Scott McCullum, president of Nexseer, said, “This client and transaction is a great illustration of our capabilities to work through complex situations, provide custom solutions, high touch service and efficient project management. Due to the significant amount and duration of the construction, the company struggled to find a lessor or lender willing to finance the project. Their alternatives were cash or a bond and neither represented an ideal solution. We have been working with this client on a variety of lease projects for nearly a decade, and I’m very proud that we were able to get this difficult transaction done for them.”
Nexseer Capital is a direct lender which works throughout the United States and abroad, solving the equipment and project finance needs of mid-sized and large companies.
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