OAKLAND, CA-Cohen Financial has secured a $21-million refinancing for a FedEx Express air/ground/transportation facility located less than a mile from the Federal Express Super Hub, one of 10 international FedEx hubs, located at the Oakland International Airport.
The FedEx Express facility can accommodate both light and heavy weight segments of the business. The facility packages, sorts, and transfers to the Oakland Super Hub's outbound flights for distribution to most markets in the Western U.S. and Canada, Anchorage and Honolulu, as well as receives packages from inbound flights for distribution to the San Francisco Bay Area.
Paul Schroeder, a managing director in Cohen Financial's San Francisco office, secured the fixed-rate, long-term, non-recourse financing. The lender is Sun Life Financial, a Cohen Financial correspondent life insurance company. The borrower is a local commercial real estate developer. The transaction closed in June 2013.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
