Byline Bank’s Commercial Real Estate Group (BCREG) has closed on $14 million in financing for the construction of a 257,000-sq-ft industrial building in San Antonio, Texas. The speculative development will deliver much-needed Class A industrial space to the northeast submarket of San Antonio. The borrower is a joint venture between TradeLane Properties Fund III and Phelan Development Company.
This loan, the thirteenth transaction Byline has financed for TradeLane and its affiliates, will assist in the ground-up development of a 32-foot clear, rear-load industrial building in an infill location in the northeast submarket of San Antonio. The thoughtfully designed building lays out for either a single tenant or multiple tenants. Dedicated trailer parking on-site, which can be expanded, provides flexibility for users. The location provides easy access to the airport and the City of San Antonio as well as to the rest of the region via I-35 and I-10.
“With turbulent debt markets and a desire to break ground quickly, TradeLane turned to Byline Bank as a strong relationship lender to quickly deliver a commitment,” said Matt Robertson, Senior Vice President of Byline’s Commercial Real Estate Group. “We are excited to support another transaction while furthering Byline’s strategy of building lasting relationships with best-in-class sponsors on a national basis.”
“We deeply value the longstanding relationship we have with Byline’s Commercial Real Estate Group. Byline was able to offer TradeLane an attractive structure and close the loan efficiently. The execution was seamless, and we look forward to many more closings with this deal team,” said Dan Morrison, Chief Financial Officer at TradeLane Properties.
Byline was represented in this transaction by the law firm Holland & Knight, and TradeLane was represented by Franklin Law Group.
About Byline Commercial Real Estate Group
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 multifamily (including student housing and active adult), industrial, self-storage and retail properties.
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, according to the national SBA ranking by the U.S. Small Business Administration by volume FY2023. Byline Bank is a member of FDIC and an Equal Housing Lender.
About TradeLane Properties
TradeLane Properties is a privately held industrial real estate company committed to harnessing its founders’ expertise in acquiring, developing, redeveloping, and operating industrial real estate facilities focused on the Central U.S. markets of Chicago, Cincinnati, Columbus, Indianapolis, Louisville, San Antonio, and Dallas-Forth Worth. For more information, visit www.tradelaneproperties.com or call Kari Jones at (630) 320-5501.
