Cushman arranges $39.7M construction loan for Florence Twp. industrial property

Cushman & Wakefield has arranged a nearly $40 million construction loan for a project in Florence Township, the real estate firm announced this week.

C&W served as exclusive adviser to Black Creek Group, which procured $39.7 million in speculative industrial construction financing for Florence West, a 508,200-square-foot Class A industrial facility.

BMO Harris Bank provided the loan.

The team of John Alascio, Chuck Kohaut and T.J. Sullivan represented the borrower on the transaction.

“Florence West’s blue-chip sponsorship, state-of-the-art design and strategic regional location were extremely appealing to lenders, who continue to increase allocations for industrial,” Alascio said in a prepared statement. “This drove a competitive marketing process where BMO Harris ultimately provided highly attractive terms and a seamless execution for our client.”