Byline Bank’s Commercial Real Estate Group (BCREG) announced the closing of $10.4 million in financing for a 263,000-sq-ft industrial building on 18 acres located in Cincinnati, Ohio. The borrower is an affiliate of Chicago-based Brennan Investment Group. Byline was represented by the law firm Duane Morris LLC.
This loan represents the ninth transaction that Byline has financed for Brennan Investment Group and its affiliates. “With turbulent debt markets, Brennan turned to Byline to provide short-term acquisition financing. Byline was able to close the loan within the borrower’s tight timeframe,” said John M. Barkidjija, Executive Vice President of Byline’s Commercial Real Estate and Specialty Finance Group. “We are excited to support another Brennan transaction while furthering BCREG’s strategy of building lasting relationships with best-in-class sponsors.”
“We deeply value the relationship we have with Byline’s Commercial Real Estate Group. Byline was able to underwrite the property and close the loan efficiently and within our tight timeframe. The execution was seamless, and we look forward to many more closings with this deal team,” said Kevin Brennan, Managing Principal, Brennan Investment Group.
About Byline Commercial Real Estate
Byline’s Commercial Real Estate Group (BCREG), headquartered in Chicago, provides first mortgage construction, bridge and permanent loans secured by properties in the Chicagoland area as well as nationwide for Tier One customers. Since 2014, BCREG has closed $2.4 billion of loans for its target market, focusing on multi-family (including student housing and active adult), industrial, self-storage and retail properties. For more information, visit www.bylinebank.com/commercial-real-estate.
About Byline Bancorp, Inc.
Headquartered in Chicago, Byline Bancorp, Inc. (NYSE: BY) is the parent company of Byline Bank, a full-service commercial bank serving small- and medium-sized businesses, financial sponsors, and consumers. Byline Bank has approximately $8.9 billion in assets and operates 48 branch locations throughout the Chicago and Milwaukee metropolitan areas. Byline Bank offers a broad range of commercial and community banking products and services including small ticket equipment leasing solutions and is one of the top Small Business Administration lenders in the United States. Byline Bank is a member of FDIC and an Equal Housing Lender. For more information, visit www.bylinebank.com.
About Brennan Investment Group
Brennan Investment Group, a Chicago-based private real estate investment firm, acquires, develops and operates industrial properties in select major metropolitan markets throughout the United States. Since 2010, Brennan Investment Group has acquired over $6.5 billion in industrial real estate. The company’s current portfolio spans 27 states and encompasses 52 million square feet.
Brennan Investment Group co-invests with private and institutional capital to achieve outstanding risk-adjusted returns. The firm’s management team is among the most accomplished in its industry, having invested in over 5,000 properties covering more than 60 cities throughout the United States, Canada and Europe. For more information on Brennan Investment Group, go to www.brennanllc.com.
