LOS ANGELES— iBorrow, a nationwide private direct lender for commercial real estate, has provided a $4.05 million loan secured by two adjacent office buildings, both with ground level retail, encompassing 13,478 square feet in Bentonville, Arkansas. The Properties, which are well positioned in the core of Bentonville’s town square, offer their office tenants a central location and their retail tenant’s access to the heavy foot traffic. Bentonville is home to Walmart’s headquarters and its first retail location, and the city’s economy is largely driven by Walmart. The Borrower will use the proceeds to fund the acquisition of one of the buildings and refinance the existing debt and complete tenant improvements on the other building.
Brian Good, iBorrow CEO, said, “The borrower is a seasoned real estate investor with a strong understanding of the Bentonville area. We believe that the experience of the borrower, coupled with the location of these properties in the heart of Bentonville will drive tenant demand and the value of the buildings. Our loan will enable the borrower to purchase the building adjacent to the one he already owns and execute on a business plan that adds significant collateral value by combining the two buildings. We are excited to see this project contribute to the already strong desirability of Bentonville’s town square.”