AloStar funded five loans totaling $53.8 million in five business days.
AloStar Business Credit provided capital to a silicon wafer materials and services provider and ASC Leasing VIII.
The RADCO Companies, Sunset & Woodland Properties and SCP-WS Guardian partnered with AloStar’s newest platform, AloStar Real Estate Finance.
“Through our range of platforms, we provided customized financial solutions that will help these five businesses grow,” said Andy McGhee, president and CEO of AloStar. “We are pleased to be able to partner with such a diverse set of clients. Our multi-faceted product approach allows us to bring creative solutions for our clients. We are honored to participate in their success.”
Outlined below are brief descriptions of the transactions:
- AloStar provided a $4.5 million machinery and equipment (M&E) term loan to a services provider of silicon wafer materials and services to the semiconductor and solar industries.
- ASC Leasing VIII, based in Kennett Square, PA, received a $10 million commitment. ASC owns product tankers and bareboat charters them to an operator in the Jones Act market.
- The RADCO Companies, based in Atlanta, received a $19.6 million term loan to facilitate the purchase of a 269-unit apartment property in San Antonio, TX. The company specializes in real estate acquisition and redevelopment nationally.
- Sunset & Woodland Properties, based in Springfield, MO, received a $5.7 million real estate term loan to allow for the refinancing of existing debt. The company owns a Class B/C apartment complex in Springfield.
- SCP-WS Guardian, based in Atlanta, received a $14 million real estate term loan for the purchase of a 382,000-square-foot office and storage facility in Chamblee, GA.