Byline Bank’s Commercial Real Estate Group (BCREG) has closed on an $18.25 million loan for the acquisition of a 230,530-sq-ft industrial warehouse and distribution facility in Suwanee, Georgia, located 30 miles northeast of Atlanta. The borrower is High Street Logistics Properties, a Massachusetts-based real estate investment management firm.
The loan supports the acquisition and repositioning of the 18.5-acre site, located at 460 Horizon Drive. The property can be configured to house either one or three tenants. It marks the fifth transaction Byline has funded for High Street Logistics Properties to date, with previous loans funding industrial properties in Georgia, Texas and Illinois.
“Atlanta continues to be an attractive industrial real estate market for distribution and manufacturing. We’re excited to support another transaction for High Street as they grow their portfolio in strategic major markets,” said Joanne Campanile, Senior Vice President for Byline’s Commercial Real Estate Group.
“Byline Bank has been an excellent lender to High Street over the last several years, and continues to be a trusted partner as we grow our industrial portfolio in targeted markets nationally through value-add and core-plus investments,” said Tim Collins, Managing Director at High Street.
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 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 $9.6 billion in assets and operates 46 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. For more information, visit www.bylinebank.com.
About High Street Logistics Properties
High Street Logistics Properties is a recognized private equity real estate investment management and development company investing exclusively in industrial and logistics properties located in major markets across the United States.
