Oakbrook North Portfolio

Transaction Details

Oakbrook North is an 11 building industrial, flex, and office portfolio northeast of Atlanta, Georgia. The portfolio includes 700,000+ square feet built in five sections between 1981 and 1985: Oakbrook I - Oakbrook V. Four buildings are rear-load warehouse facilities with primarily dock-high doors. Five are flex buildings with primarily grade level doors in addition to some dock-high doors. The two remaining buildings are office assets.

The Proposition

Essex Financial Group was approached by its client to help arrange acquisition financing in accordance with the client’s business strategy. The client’s objectives were to acquire the property and obtain attractive proceeds, pricing, and reasonable reserves for future capital needs.

Our Solution

The $27,350,000 non-recourse loan was arranged between a Midwestern Life Insurance Company and Rothenberg-Rosenfield Inc., a New York based borrower, and active Denver property owner. This major asset adds to Rothenberg-Rosenfield Inc.’s growing Atlanta portfolio. The loan’s 10-year term and 30-year amortization was consistent with the borrower’s long term outlook and objectives to improve and lease up the asset to its full potential. By leveraging long-standing capital relationships, Jeffries was able to negotiate attractive loan proceeds, pricing, and flexibility of borrower-controlled property improvement and leasing reserves. Essex closed the loan pursuant to the client’s contractual acquisition timeline.