(Read more on the industrial market.)
AURORA, IL-Liberty Illinois LP has received $78 million infinancing for a portfolio of seven buildings totaling nearly 2.5million sf. Liberty Illinois is a joint venture between LibertyProperty Trust, headquartered in Mulvern, PA, and New York CommonRetirement Fund.
Brian Campbell, VP with San Mateo, CA-based Capmark FinanceInc., originated the financing, which was funded by MetLife. Theterm of the financing is 10 years, Campbell says. The interest ratewas not disclosed. The loan-to-value for the properties ranges from60% to 65%, he tells GlobeSt.com. Figuring the financing, theproperties are worth more than $130 million.
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