Press Release: British Tire & Rubber and Allsteel Units Sold By Alliance
Chicago – Alliance Capital Markets Group executed the finance of the corporate HQ via a structured finance transaction on behalf of British Tire & Rubber, BTR/Nylex. The Alliance team, headed by Bret Broaddus and assisted by Alan Shaw detailed the financing for BTR totaling 1,435,456 square feet for the INS Office R&D facility in Montgomery, IL and sold on an off balance sheet finance basis.
The leaseback was for 15 years and also included the expansion land of 65.2 acres. Paul Samek, CFO of Allsteel worked on behalf of BTR Company in addition to working with the Alliance Capital Markets Finance Group. On-site, 1,000,000+ square feet leasing and surplus land was developed for a Home Depot build-to-suit.
Article By Chief Editor, COMMERCIAL PROPERTY NEWS