Bob Dockerty & Joe Hepp of Dockerty Romer & Co. have arranged mortgage financing and a future funding facility for ICM Realty Group’s newest office acquisition, a 112,000 SF office building known as One Corporate Center IV. Built in 1986, the property is located at 7301 Ohms Lane, Edina MN. Located “close to everything” in the coveted Edina market, the property is situated just off the Highway 100 and I-494 interchange, which enjoys prominent visibility, and is convenient to major highways and amenities located within the area. Currently 77% occupied, One Corporate Center IV boasts an impressive roster of national and local tenants, and is a great addition to the ICM portfolio.
Dockerty and Hepp arranged the financing on behalf of their client ICM Realty Group through MidWest One Bank. The loan proceeds were utilized for the acquisition and to provide a funding facility for future capital improvements.
“It’s because of the diligent efforts and market leading expertise of Dockerty Romer & Co. that we were able to successfully structure attractive financing in an accelerated time frame. ICM’s strategic partnerships with firms like Dockerty Romer & Co. and MidWest One Bank allow us to continue our long track record of success.” Said Andrew Webb, ICM Realty Group’s Managing Director.
Dockerty commented that, “Both the borrower and the lender were highly focused and professional in all areas of this transaction, which resulted in completing this transaction, is a very short time frame.” Hepp stated that, “It was truly a pleasure working with an extremely experienced and knowledgeable borrower, our client is very bullish on this market, as this acquisition represents the third investment in the Minneapolis area.”
Dockerty Romer & Co. based in Delray Beach, Florida is a full service commercial mortgage banking company specializing in the capitalization of income producing properties. Dockerty Romer & Co has closed nearly $5 Billion of real estate transactions since its inception in January 2000.