Welbic Does $49M Refi of 27 Properties

CHICAGO—Welbic Investments has just refinanced a 1.4-million-square-foot portfolio with 27 buildings, including two new buildings the suburban investment company recently purchased. The portfolio includes both industrial and office properties with more than 100 tenants located throughout the metropolitan area, including Southeastern Wisconsin.

Welbic is a private investor made up of members of the Cibula and Lewandowski families. The group was able to refinance the portfolio for $49 million with participation from Wells Fargo and First Merit Banks. Darwin Realty & Development Corp. director of asset management Erin Cibula and vice president Matt Lewandowski led the refinancing for the company.