Podolsky|Circle Provides Loan Advisory Services for Fully-Leased Building
Assists Client in Securing Long-Term Non-Recourse Debt
Podolsky|Circle CORFAC International has provided loan placement advisory services to the owner of 1641 Glenlake Ave. in Itasca, Ill. Randy D. Podolsky, SIOR, Managing Principal, provided the services to a long-standing client.
Services provided by Podolsky|Circle included identifying the lender, negotiating the terms and coordinating the closing of the long-term loan. The borrower, a Tenants-in-Common group, sought recourse-free debt, which Podolsky|Circle was able to source.
The TIC investment group owned building is an 80,020-square-foot single tenant facility that is 100 percent leased to QMI Security Solutions.
Currently, Randy, along with Alissa Adler, Principal, are working on debt restructuring assignments for several ownership groups, as well as new debt placement for other office and industrial customers of Podolsky|Circle. Utilizing Podolsky|Circle to underwrite and place the debt brings both advisory services under one roof.