The company's 50% participating interest in its subsidiary generated gross profit and rents of approximately $130,000 on the transaction. Across America provided 100% financing for this project. "It is the company's goal to serve both our developer partners and build-to-suit tenants with development counsel and funding that continues to provide the best in class equity financing for the swiftly growing build-to-suit market place," says Alex Lagerborg, president and CEO of the company. Lagerborg tells GlobeSt.com he is not at liberty to release the name of the Fortune 500 company.
"Because AARD provided 100% of our project financing, as well as a unique deal structure with speedy underwriting, Cross Country Properties, III not only delivered the build-to-suit project on time but ahead of schedule," says Philip Bader, managing partner of Cross Country Properties, III. "I am finding that the ease and flexibility of working with Across America Real Estate Development helps us to grow our business."
Across America Real Estate Development is a national, investor partner focusing on 100% financing of build-to-suit projects and also seeking to be the low-cost provider of financing for those transactions where a bank requires developer equity.
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