Stonebriar Closes $12MM Warehouse and Distribution Facility Loan
APR 11, 2018 - 6:48 am
Stonebriar Commercial Finance closed a $12 million loan with a privately held women’s apparel company. The loan is secured by a 470,000 square foot warehouse and distribution facility residing on 105 acres. The facility, located to serve the borrower’s Eastern U.S. retailers and customers, was recently improved with customized pick-to-light lines and is accessible via multiple logistics alternatives. The proceeds of the loan were used for the borrower’s general corporate purposes.
Kyle Parks, Stonebriar’s head of Direct Originations, said, “This closing represents our second with this innovative and growth-oriented client, and highlights our ability to structure transactions secured by both real and personal property. The Stonebriar team, led by Brian Daley and Jon Dahlfors, worked collaboratively with the client to underwrite and close this loan in a timely manner.”
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