BWE, a national commercial and multifamily mortgage banking company, announced today that it has secured $5,250,000 in acquisition financing for a three-property portfolio of well-located industrial properties in Wisconsin and Illinois. Likewise Partners acquired the portfolio, and Christopher Carroll and Max Miller from BWE’s Chicago office originated the loan on their behalf from a Minnesota-based credit union.
“We were pleased to work with Likewise Partners to find a financing solution that met their unique needs and contributed to their expansion throughout Wisconsin and Illinois,” said Carroll.
The three infill industrial properties, located in Menomonee Falls, WI, Appleton, WI, and Machesney Park, IL, total approximately 79,152 square feet and are 100% leased, with 92% of the space occupied by the Engman-Taylor company, an industrial distributor. MSC Industrial Supply acquired the portfolio’s operations in 2022, and entities related to the seller of the business retained ownership of the company’s headquarters in Menomonee Falls and smaller field offices in Appleton and Machesney Park.
“This transaction is consistent with our objective to acquire infill industrial properties with durable in-place income and appreciation potential,” said Steven Buss, Founder and CEO of Likewise Partners. “The Engman-Taylor Industrial Portfolio adds another high-quality industrial customer to our holdings and expands our geographic footprint to Wisconsin’s Fox Valley and the Beloit, WI/Rockford, IL industrial markets.”
