July 11, 2018 Comments Off on Capital One Arranges $143M Loan for 51-Property Portfolio Play Views: 2594 Illinois, Indiana, Midwest, National News

Capital One Arranges $143M Loan for 51-Property Portfolio Play

A joint venture between Boston-based Taurus Investment Holdings and Venture One Real Estate secured $142.5 million in funding to acquire a portfolio of 51 Class B properties spread across Chicago submarkets in Illinois and Indiana. Capital One served as administrative agent, sole lead arranger, and sole bookrunner for the senior secured term loan.

The facility consists of an initial advance of $129.4 million, and $13.1 million in capital expenditure and TI/LC holdbacks. The adjustable-rate loan has a term of 60 months. Venture One, which previously owned the portfolio, will continue to manage the properties.

The portfolio totals more than 2.9 million square feet of infill properties located in business parks or in locations with highway access. At closing, the properties accommodated a diverse roster of more than 180 tenants for a leased occupancy rate of 92.7%.

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