The major tenant is ITN Energy.
Cohen Financial secured $2.25 million for the borrower, a private developer and repeat customer. Terms of the 10-year non-recourse loan with carveouts include a 28-year amortization schedule, 75% loan-to-value ratio and pricing based on the 10-year US Treasury Index. The lender was a life insurance company.
Chicago-based Cohen is a national real estate finance company. It is the nation's third largest originator of commercial real estate loans. The company, with office in nine major US markets, has a market capitalization of more than $100 million.
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