T-Max Lending has successfully arranged financing for the construction of a mixed-use commercial complex in Decatur, IL. The loan was structured at an 8.9% interest rate with an 85% loan-to-value (LTV), a 24-months term and a six-month extension option. The financing covers the project’s development costs, with repayment structured from lease-up proceeds following the commencement of operations.
Situated on 5.82 acres, the new development will feature a diverse mix of commercial floors, professional office suites and fitness and wellness facilities. Additional amenities include conference and meeting rooms, communal green spaces, playgrounds and seating areas. Construction is scheduled to begin in December, with project completion expected by mid-2026.
The transaction was sourced by a broker, who joined T-Max Lending as a broker last month. Recognizing the urgency of the deal, he presented it for immediate review. Underwriters Jackson Valerie, senior vice president, and Mason Simmons, CFO, led the accelerated review process, evaluating the asset, sponsor profile and loan structure.
“Having collaborated with the broker for over ten years, we had full confidence in his judgment and industry expertise,” the sponsor said. “When he recommended T-Max Lending for this transaction, we were certain they could deliver within the required time frame after our introductory call with Jackson. Throughout the process, the T-Max team demonstrated exceptional communication, keeping us informed at every stage, addressing questions promptly and making decisions efficiently. Their professionalism and responsiveness made a complex, time-sensitive transaction seamless, allowing us to focus on the development rather than the financing.”
He added, “T-Max Lending’s combination of speed and thorough underwriting provided assurance that the loan structure was both sound and flexible. From start to finish, the process was smooth, transparent and highly collaborative exactly what was needed to advance this project successfully.”
Valerie concluded, “This project exemplifies T-Max Lending’s commitment to supporting high-quality, mixed-use developments that drive economic growth and provide vibrant spaces for businesses and residents. Our financing solution ensures the developer has the resources to bring this innovative property to life, with repayment aligned to the property’s successful lease-up.”
