CRE Bridge Cincinatti, Ohio Airport - Industrial Land Acquisition
Client: An experienced real estate developer and operator in the Cincinatti/Northern Kentucky market.
Transaction: Acquisition loan for vacant industrial land near the Cincinatti/Northern Kentucky International airport/CVG.
Challenge: Client needed to close quickly on acquisition of 21 acres of vacant land within an established industrial to take advantage of off-market pricing. Client also had land pre-sold to a regional trucking company.
Opportunity: Conventional financing would not qualify for speculative land and could not close within the timeframe. Sherpa Capital Group LLC was able to complete diligence, site visit and provide financing within 2 weeks.
Action: Sherpa Capital Group LLC provided a first mortgage and borrowers exit strategy is to sell land to end user once the local plans and permits are approved.
Transaction: Acquisition loan for vacant industrial land near the Cincinatti/Northern Kentucky International airport/CVG.
Challenge: Client needed to close quickly on acquisition of 21 acres of vacant land within an established industrial to take advantage of off-market pricing. Client also had land pre-sold to a regional trucking company.
Opportunity: Conventional financing would not qualify for speculative land and could not close within the timeframe. Sherpa Capital Group LLC was able to complete diligence, site visit and provide financing within 2 weeks.
Action: Sherpa Capital Group LLC provided a first mortgage and borrowers exit strategy is to sell land to end user once the local plans and permits are approved.
