NEWS

october 2007

Ashley closes two new financings in Brownstown Township, Michigan

Ashley Capital and KeyBank have closed on a $10.5MM construction loan for the development of Building 6 at Brownstown Business Center. Located in Brownstown Township, Michigan, the new warehouse/distribution building is approximately 282,000 SF and features 30’ ceiling heights, 48’ x 53’ bay sizes and 59 truck docks. C-Mac Transportation, LLC, a provider of warehousing and consolidation solutions for automotive companies, has signed a long-term lease for approximately 145,000 SF. They will assume occupancy in November 2007.

Ashley Capital has refinanced its loan on Brownstown Business Center 4 & 5 with Teachers Insurance and Annuity Association. The $10.5MM fixed rate financing on the 220,000 SF Building 4 and the 15 acres of land under Building 5 has a term of ten years. Tenants in Building 4 include Detroit Edison, the energy service and technology provider, and Transfreight, a third party logistics provider. Building 5 is owned and occupied by 18690 Dix Toledo Road, LLC, an affiliate of the supply chain services provider ASW Global.

Bernard Financial represented Ashley Capital in securing this financing.
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