Baker Hill Industries – $2.5MM Refinance / Acquisition

Baker Hill Industries, Inc. (BHI) an established manufacturer and owner of an existing 15,284 SF manufacturing facility came to Compass looking to expand their existing manufacturing base to an adjacent two-story CBS building currently improved as a self storage facility.  BHI recently secured new long term contracts with several of the nations preeminent aerospace and defense contractors and needed to expand their existing manufacturing base to meet demand.  The acquisition of the adjacent 17,748 SF self storage facility would more than double their manufacturing base and allow them to the space they need to meet the new increased demand.  Compass was able to successfully negotiate and close on the $2,500,000 financing at a low a 10 Year and 9 month fixed rate / term financing.  The initial 9 months is interest only allowing the borrower to improve the property and start generating cash flow prior to the commencement of principal and interest payments.