Tiger Finance closed on $17 million in growth financing for an East Coast industrial real estate investment and development firm.
Over the past five years, the company has acquired more than $400 million in Class A to C industrial assets, with an emphasis on distribution and fulfillment centers, boosting its portfolio of owned and managed space to nearly 5 million square feet. The company will use the new loan from Tiger Finance for the acquisition and redevelopment of a 560,000-square-foot, Class B, two-building industrial property in the Mid-Atlantic region.
“Our client has been one of the most active industrial real estate investors in its operating area over the past several years,” Andrew Babcock, managing director at Tiger Finance, said. “We are thrilled to partner with this company on this latest opportunity to create value in the industrial sector. The company has thrived by identifying strategically located and functionally efficient industrial properties and then repositioning them for appreciation and higher cash flow through redevelopment and other value-creation strategies.”
Other recent deals by Tiger Finance include $8.2 million in growth financing for Outdoor Adventure Brands, a $48.5 million revolver/term loan for Daytona Apparel Group, a $30 million credit facility for TerraMar’s acquisition of Francesca’s and $6 million in funding for Nogin’s acquisition of ModCloth.
“Several factors have come together to drive up demand for Tiger Finance’s product among retail, e-commerce and wholesale companies, not to mention investors in high-demand industrial assets,” Bob DeAngelis, executive managing director of Tiger Finance, said. “We see this continuing into 2022 as many of these trends, such as the shift to ecommerce, further evolve.”
