Deal Status

Active

Property Address

6344 Lake Drive

Godfrey, Illinois

62035

Requested Loan Amount

1479800

Loan to Value

70

Loan Term

24

Lien Position

1st

Collateral Type

Commercial Property

Exit Strategy

Refinance

Commercial Property Type

Industrial

Industrial Property Types

Distribution Warehouse

Cannabis Business

No

Number of Units

1

Current Occupancy

Owner Occupied

Current Occupancy Percentage

90

Loan Type

Refinance

Square Footage

71959

Current Market Value

1800000

Existing Mortgages

  • 1st

Mortgage 1 Balance

675000

Equity Cash Out

Yes

Equity Cash Out Purpose

Improve Subject Property

Equity Cash Out Details

The property is valued 1.8MM, with a balance of 675,000. Client doesn't have and any liens on the property. Mr, Kuebrich has over 400,000 invested in equipment ,and the new logistics facility that had the capacity for five rail cars. Since taking ownership, the spur has been extended and can now hold up to 12 . Mr Kuebrich is Requesting a 24 months loan. The current warehouse provides 71,000 square feet of indoor storage, with the space to grow, Lake Drive Logistics is continuing to expand its indoor and outdoor storage capacity. The client is looking to Cash Out/ Refinance. Lake Drive Logistics is located on 45 acres in the heart of Godfrey, IL. Property is in 6344 Lake Drive Godfrey, Illinois. The Cliens has a successful Rail cars transport and machine shop business, Timothy .J Kuebrich is the principal and has been in business over 8 Years

Appraisal

No

Lot Size

46.63

Will additional properties be collateralized?

No

Borrower Entity

LLC

Borrower Credit Rating

Excellent

Additional Attachments

h

Comments

The property is valued 1.8MM, with a balance of 675,000. Client doesn't have and any additional liens on the property except the 1st mortgage. Mr, Kuebrich has over 400,000 invested in equipment ,and the new logistics facility that had the capacity for five rail cars. Since taking ownership, the spur has been extended and can now hold up to 12 . Mr Kuebrich is Requesting a 24 months loan. The current warehouse provides 71,000 square feet of indoor storage, with the space to grow, Lake Drive Logistics is continuing to expand its indoor and outdoor storage capacity.

First Name

Cesar

Last Name

Rodriguez

Company

Engel & Volkers Orlando Downtown

Role

Mortgage Broker

Location

Orlando
Florida
USA