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AloStar Funds Three Loans Totaling $40.5 Million

October 05, 2016, 07:29 AM

AloStar recently funded three deals totaling $40.5 million through its Capital Finance platform.

  • AloStar committed $20 million to Capital Southwest Corporation as part of a $100 million revolver. Capital Southwest Corporation is a business development company that invests largely in middle-market companies across a variety of industries.
  • AloStar also provided a $14.2 million real estate term loan to AGNL FCSL, LLC, an affiliate of AG Net Lease Realty Fund II. The loan refinanced the mortgage on the company’s 225,000 square foot buildingin Jacksonville, Fl. that houses the Florida Coastal School of Law.
  • AloStar funded $6.3 million of a larger $15 million revolving commitment to Ritzman Pharmacies. Ritzman Pharmacies operates over 20 pharmacies – with locations that are both freestanding and ingrocery stores – across the Akron, northeast-Ohio area.

“We’re thrilled to add these deals to our diverse and growing portfolio,” said Andy McGhee, president and CEO of AloStar. “We look forward to growing and working with these companies for years to come.”

AloStar offers needed capital and counsel to business leaders across America who are creating their own success stories. Businesses, community banks and individuals come to AloStar for capital requirements between $5 million and $20 million, correspondent services andretail banking. AloStar Capital Finance creates customized lending solutions through its Business Credit, Lender Finance and Real Estate Finance platforms. AloStar Capital Finance is a trade name of AloStar Bank of Commerce.

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