NEWS

january 2008

Ashley closes new financing in Chicago, IL

Ashley Capital and American Equity Investment Life Insurance Company have closed on a $4.5MM permanent loan for the refinancing of Building 8 at Calumet Business Center. Located on the south side of Chicago in Ashley’s two million square foot industrial park, the 211,000 square foot building was built in stages in the 1970’s. It features a clear height of 18 feet, 26 dock high level doors and gas forced air unit heaters. The building is occupied by MeadWestvaco, who has been a tenant in the park for over a decade. The new financing carries a term of ten years and the repayment is based on a 25-year amortization schedule.

Ashley was represented by Northmarq Capital in this transaction.
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