Baltimore, Maryland – Commercial Loans news this evening is on a Non Recourse Loan. Commercial Mortgage Brokers have just financed a Non Recourse Loan in the amount of $70 million. Commercial Mortgage Brokers are prepared to fund capital for Class A Office Buildings, Industrial properties, Apartment Buildings and Triple Net Lease Properties. The capital was funded from a Life Insurance Company, as many Non Recourse Loans have been recently.
The $70 million Non Recourse Loan is on a Class A office building that is approximately 278,112-square-feet. This Commercial Loan collateral is situated at 855 N Wolfe Street, in Baltimore, with the zip code of 21205. This commercial loan collateral is known as 855 North Wolfe Street or also as the John G. Rangos Sr. Building. This commercial loan collateral is the first of five “life – science” buildings which were planned within this newer East Baltimore Community. This new Non Recourse Loan pays off a Construction Loan that was owed approximately $60.5 Million. The new Commercial Loan comes with a fixed interest rate which is just under 6% and of course the bright spot being a Non Recourse Loan.
This Commercial Loan collateral was brilliantly designed to meet the advanced requirements of sophisticated requirements for a variety of net lease property Tenants. This Commercial Loan collateral has Base building specifications that include: Floor-to-floor heights of 15’8″ with 46,000 Square foot floor plates with relatively few columns. This Commercial Loan collateral also has Interior loading docks with a service elevator to all floors for extreme convenience. The Commercial Property also has the unique ability to accommodate vibration-sensitive equipment.
The Owner signing for the Commercial Loan was Forest City Enterprises Inc. and they can breath easily with this Non Recourse Loan. The Commercial Loan collateral is situated in The Science + Technology Park at Johns Hopkins University, in Baltimore, Maryland. The Net Leased Property tenants at this property include the Lieber Institute for Neuroscience Research, Champions Biotechnology, Siemens and the premier Johns Hopkins Brain Sciences Institute and the important Translational Research Laboratory.
Also just recently announced were new Tenants, including Personal Genome Diagnostics, which is a cancer diagnostics company focused on personalized medicine. Also helping to pay down this Commercial Loan are Tenants, such as Inostics, a German diagnostics company focused on improving cancer drug development. These net lease property Tenants are helping to take this property’s occupancy rate to over 80%. This Commercial Loan collateral will also add new retail tenants in the near future, who are Teavolve, and Cuban Revolution. The net lease property Tenant, Teavolve, is a café offering gourmet tea and lite fare and the Cuban Revolution (restaurant) happens to be a Cuban fusion eatery. Net Lease Funding is available for Baltimore, Maryland and the Washington, D.C. Business district. Commercial Loans for 1031 Exchange financing is readily available too.
Forest City Enterprises, Inc. was the developer of this Science + Technology Park at Johns Hopkins and can move forward on this project after the funding of the Non Recourse Loan. Forest City Enterprises, Inc. is an NYSE-listed. national commercial real estate company. This commercial real estate company currently owns over $11.7 billion in total assets, including NNN Commercial Real Estate. The signors for the Non Recourse Loan are primarily engaged in the ownership, development, management and acquisition of commercial real estate and land throughout the entire Country.
If you are seeking to buy investment property, especially in the areas listed below, then fill out our easy Commercial Loan Form
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