Area company uses financing to close transaction

Horner Investments uses CBS financing to add to its growing portfolio of properties

Horner Investments, a Toledo-based property holding and management company that currently owns and manages 50,000-plus square feet of property, recently worked with Cooperative Business Services (CBS), a commercial lending institution that provides commercial loans to businesses through a credit union cooperative, to finance a transaction for two properties in the Toledo area – one on 3060 South Avenue and one on 2500 Reynolds Road.

Scott Horner, CEO and founder Horner Investments, noted that the financing provided by CBS was a must to make the deal happen.

“The underwriting services provided by CBS focused much on the income-producing capabilities of the property, which allowed the deal to happen and created a win-win situation for the seller, the buyer, and CBS,” said Horner. “CBS did a great job connecting Horner Investments with the credit unions, appraisal, and the relationship they had with the title company – all of which created a smooth transaction.”

According to Horner, he is on the hunt for new properties, and once he finds the right spots, he plans to have CBS involved with additional financing.

“CBS is the source that I recommend. Everything that they did really helped bring the deal together. They have a different perspective that focuses on deals that many of the traditional banks don’t see. They focus on income, they focus on results, and that’s why it really helped me,” said Horner.

Horner is also the CEO and founder of GLIC Electrical, a Toledo-based electrical contracting company that services the areas of northwest Ohio and southeast Michigan. The company provides 24/7 full-service electrical contracting to residential, commercial, institutional, and industrial customers in the area.

“Horner Investments has acquired three properties throughout 2020. The fact that I own Horner Investments and GLIC Electrical gives us an advantage to maintain these properties under one ownership roof.”

According to Horner, the two companies work together hand-in-hand as both companies complement each other.

“These companies together tell the complete story on how this works. With Horner Investments, we own and manage a range of properties. GLIC then helps manage those properties and maintain them. The companies really work well together and make the businesses a success. It’s really the differentiator for us,” said Horner.