Infineon Technology Regional Headquarters

Infineon Technologies was NEG's first LEED Silver Building.  The project is located in Livonia, Michigan on land purchased from the REO portfolio of Wells Fargo Bank.  The financing presented two unique situations, besides the timing of the project which was undertaken just as the financing market was recovering.  The parent of Infineon Technologies would not sign a guarantee; we had to rely on a soft commitment letter from them.  Infineon Technologies had no financial statements of their own.  I had to parse the little data that they gave out along with public financial statements for the parent to create something that a lender could look at and approve. The second difficulty was that we were purchasing 10 acres, 4 of which was to used for Infineon, and 6 acres were spec.  I structured a construction loan/mini-permanent with a 2 year delayed payoff of the 6 acre parcel. We ended up selling the 6 acres to Dave and Busters and the Infineon Building to an investment group in a 1031 exchange. ( I also played a minor role in the development, presenting the proposed variance requests  at the planning meeting and in the rezoning meeting for the Dave and Buster's parcel.)