FOR IMMEDIATE RELEASE
November 8, 2018
Byline Commercial Real Estate Group supports Bridge Development Partners in its acquisition of Industrial/Office Building in Addison, IL
CHICAGO, IL – Byline Bank’s Commercial Real Estate Group (“CREG”) announced that it has provided $5.8 million in financing to support Bridge Development Partners (“Bridge”) acquisition and tenanting of 133 N. Swift Road, Addison, Illinois, an 87,640 square foot office/industrial Building located near the intersection of I-355 and Army Trail Road (the “Building”). Byline was represented by Duane Morris LLP.
This is the eighth transaction that Byline has financed for Bridge and its affiliates. “Bridge is a premier developer and owner of industrial buildings throughout the United States. We are excited to support another Bridge transaction while further CREG’s strategy of building lasting relationships with best-in-class sponsors”, said John M. Barkidjija, Executive Vice President of Byline’s Commercial Real Estate and Specialty Finance Group.
“We value the relationship we have with Byline’s CREG. They were able to artfully provide multiple financing options for the purchase and tenanting of the Building in a fast moving and shifting negotiation with the new tenant”, said John Maduros, Chief Financial Officer of Bridge Development Partners.
About Byline Commercial Real Estate
Byline’s Commercial Real Estate group, headquartered in Chicago, IL, provides first mortgage loans secured by properties in the Chicagoland area as well as loans throughout the United States for Chicago based sponsors and other Byline customers. Since 2014, Byline’s Commercial Real Estate group has closed over $900 million of loans for its target market, focusing on multi-family (including student housing), industrial, retail and office properties. For more information visit: www.bylinebank.com/commercial-real-estate.
About Byline Bank
Headquartered in Chicago, Byline Bank, a subsidiary of Byline Bancorp, Inc. (NYSE:BY), is a full service commercial bank serving small- and medium-sized businesses, financial sponsors, and consumers. Byline Bank has approximately $4.9 billion in assets and operates more than 50 full service branch locations throughout the Chicago and Milwaukee metropolitan areas. Byline Bank offers a broad range of commercial and retail banking products and services including small ticket equipment leasing solutions and is one of the top 10 Small Business Administration lenders in the United States.
About Bridge Development Partners
Bridge is a Chicago based real estate developer that transforms complex industrial real estate opportunities into irreplaceable industrial assets. Bridge achieves this through a creative, flexible and strategic focus across infill industrial properties, cold storage and brownfield development. For more information, visit www.bridgedev.com.
For more information please contact:
John M. Barkidjija
Executive Vice President
Commercial Real Estate and Specialty Finance