$9.37M acquisition financing secured for Northeast Minneapolis industrial portfolio
JLL Capital Markets arranged the financing for 6 industrial properties on behalf of Buligo Capital Partners
MINNEAPOLIS – October 10, 2022 – JLL Capital Markets announced today that it has arranged $9.37 million in acquisition financing for six industrial buildings totaling 191,986 square feet in Minneapolis, Minnesota.
JLL worked on behalf of the borrower, Buligo Capital Partners, to secure the five-year, fixed-rate loan through Justin Adducci of North American Banking Company. Loan proceeds for future funding were also committed by the bank.
The buildings are fully occupied by a variety of tenants, including StreetFactory Media, Children’s Theatre, CenturyLink, Brownstone Distributing, Guthrie Theater and more.
Occupying a full city block, the properties are located at the intersection of East Hennepin Avenue and Harrison Street Northeast. The buildings are a five-minute drive from downtown Minneapolis, 12 minutes from downtown St. Paul and 15 minutes from the Minneapolis-St. Paul International Airport. The portfolio is positioned to service 21,122 businesses and 477,365 residents within a five-mile radius. In addition, the properties are near Interstates 35W and 94, connecting them with the greater Minneapolis-St. Paul region.
The JLL Capital Markets team representing the borrower was led by Managing Director Trent Niederberger and Director Britta Lund.
“Demand remains strong for infill industrial buildings with outdoor storage, and we were able to really lean into this great value-add asset to source an exemplary financing solution for Buligo’s first acquisition in the Twin Cities market,” said Lund.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of June 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Buligo Capital Partners
Buligo Capital Partners is a global real estate investment firm that provides investors with the opportunity to invest globally alongside experienced operators. With offices in Israel and the United States, as well as strategic partnerships worldwide, Buligo is able to offer its clients a broad range of investment options for different risk profiles while providing portfolio diversification across geographies and currencies. Buligo is a publicly traded company (TASE: BLGO), participating alongside investors in each investment.