The Philipsborn Company provided a highly leveraged, forward, long term fixed-rate permanent loan commitment of $5,640,000 for this approximately 42,000 square foot pre-leased single-story, single-tenant office building. The developer’s site was too large and the excess land was to be sold to offset development costs. The Philipsborn Company arranged for construction financing of $5,640,000 against the forward commitment and then additional interim funds to partially fund the excess land costs. Finally, the Company arranged for the equity funds needed to balance the construction costs and excess land costs. All three pieces of the financing came together simultaneously to meet the developer’s financial needs and allow for the timely delivery of finished space for the tenant.

Medical Office Building
Elgin, Illinois

The Philipsborn Company structured a $2,900,000 interim/miniperm loan that refinanced the existing indebtedness and provided additional funds for tenant improvements and leasing commissions for this two-story, 29,000 square foot, multi-tenanted medical office building.