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Invesco JV Obtains $49M Loan for 36 Assets

CHICAGO-Value Industrial Partners and Dallas-based Invesco Real Estate get financing for 30 refinanced properties and six acquisitions.

By Dana Dubriwny | Updated on September 21, 2006

(To read more on the industrial market and the debt and equity markets, click here.)

CHICAGO-A joint venture between Elmhurst-based Value Industrial Partners and Dallas-based Invesco Real Estate has secured $48.75 million in financing for a 36-property industrial portfolio. The properties, which total 1.42 million sf, are located in the Chicago metropolitan area. Under the terms of the joint venture, Invesco will take a 50% interest in the properties.

Steve Skok, director with Cohen Financial, originated the transactions. Skok tells GlobeSt.com that 30 of the properties were refinanced, while the remaining six were acquisitions. He refrained from giving the exact locations, but said the refinanced properties were “equitably spread out between the O’Hare, North and Northwest suburban industrial submarkets, and the Southwest submarket.” He adds that the acquired properties are located in the Chicago suburbs, including Elmhurst, West Chicago and Mokena.

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