Griffin Assists Greater Berks Development Fund Refinance Real Estate Portfolio

Company Overview
The Greater Berks Development Fund (“GBDF”) is a nonprofit entity which aids and promotes economic and industrial expansion in Reading and Berks County, PA. GBDF has assisted many businesses – from small family owned businesses to global manufacturing firms – to relocate and/or grow in this geographic market.

Situation
GBDF desired to refinance a portion of its community development real estate related portfolio. GBDF’s rates on certain of its facilities were extremely high and included other burdensome terms and conditions.

Solution
Griffin was engaged by GBDF to refinance a portion of its community development real estate related portfolio. Through its relationships with local lenders and Griffin’s competitive process, Griffin raised the capital necessary for GBDF to refinance its debt at very favorable rates and terms.

For more information on this transaction, please contact Thomas G. Whalen, Managing Director, at 610.205.6115.

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