Marcus & Millichap’s IPA Capital Markets Arranges $96.7M Financing from Bank OZK for Northern Illinois Industrial Portfolio
December 22, 2025
ROCKFORD, Ill., Dec. 22, 2025 – IPA Capital Markets, a division of Marcus & Millichap (NYSE: MMI) specializing in capital markets services for major private and institutional clients, announced today the $96.7 million financing of three industrial properties in Rockford, Illinois.
IPA Capital Markets’ Frank Montalto, managing director, and Ethan Splan, associate director in the firm’s Chicago downtown office, secured three-year, non-recourse financing with Bank OZK on behalf of Craig Erdmier, a prolific Northern Illinois–based design-build and construction management professional and general contractor.
The portfolio comprises over 650,000 square feet, including two fully stabilized, mission-critical industrial buildings totaling 503,395 square feet. Each was developed as a build-to-suit facility for a global pharmaceutical services provider with strong credit fundamentals and ongoing expansion needs. Both properties are located within established industrial corridors and function as critical logistics and distribution hubs supporting the tenant’s national operations.
The financing will be used to consolidate the stabilized assets and cross-collateralize the income-producing properties to support the construction of the third facility, which will total approximately 155,000 square feet.
“This transaction presented a rare opportunity to finance a sponsor-developed industrial portfolio backed by a strong credit tenant with zero leasing risk,” said Montalto. “We’re pleased to deliver a solution that supports our client’s growth strategy and underscores the strength of the industrial sector.”
IPA Capital Markets’ Frank Montalto, managing director, and Ethan Splan, associate director in the firm’s Chicago downtown office, secured three-year, non-recourse financing with Bank OZK on behalf of Craig Erdmier, a prolific Northern Illinois–based design-build and construction management professional and general contractor.
The portfolio comprises over 650,000 square feet, including two fully stabilized, mission-critical industrial buildings totaling 503,395 square feet. Each was developed as a build-to-suit facility for a global pharmaceutical services provider with strong credit fundamentals and ongoing expansion needs. Both properties are located within established industrial corridors and function as critical logistics and distribution hubs supporting the tenant’s national operations.
The financing will be used to consolidate the stabilized assets and cross-collateralize the income-producing properties to support the construction of the third facility, which will total approximately 155,000 square feet.
“This transaction presented a rare opportunity to finance a sponsor-developed industrial portfolio backed by a strong credit tenant with zero leasing risk,” said Montalto. “We’re pleased to deliver a solution that supports our client’s growth strategy and underscores the strength of the industrial sector.”
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About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com.