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6/19/25
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A 346k sf renovated warehouse facility in Iowa City, IA was refinanced with a new loan of $20 mil. The distribution center, located at 2500 Heinz Rd, is 100% leased to Amazon for use as a regional delivery station serving the Cedar Rapids and Iowa City MSA’s.
The center sits at a logistically efficient location with ready access to I-80 and I-380, key interstate freeway arterials serving Eastern Iowa. The facility occupies a nearly 40-acre site zoned for industrial use with ample parking, trailer storage, and room for expansion.
Tony Kaufmann and Joe Foley with Gantry arranged the loan on behalf of a private real estate investor. The 10-year, fixed rate, non-recourse loan was funded through a credit union and features partial interest only and no prepayment penalties. According to Kaufmann, industrial property is still a top asset class for loan allocations from a range of debt sources, including life companies, CMBS, banks and credit unions.
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