JDI closed a bridge loan just 72 hours after issuing a term sheet, helping an experienced industrial outdoor storage investor meet a tight contract deadline on a 4.21-acre site in Indianapolis, Indiana. The term sheet went out on Monday and the loan closed on Thursday. The borrower owns more than 25 IOS assets. The property sits directly off US-40, adjacent to Indianapolis International Airport and FedEx’s second-largest hub worldwide. The business plan is to expand usable storage area from 1.5 to 4.0 acres through grading, fencing, and security improvements.
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