Acquisition financing secured for industrial facility in Knoxville, Tennessee
JLL Capital Markets worked on behalf of Dallas-based Blue Ridge Industrial to facilitate the transaction
DALLAS, June 4, 2024 – JLL Capital Markets announced today that it arranged acquisition financing for Parkside, a 362,299-square-foot industrial facility in Knoxville, Tennessee.
JLL represented the borrower, Blue Ridge Industrial, and secured the seven-year, fixed-rate loan through RGA Reinsurance Company.
The property is currently 97 percent leased and is located at 440 Goodys Ln. It features 25-foot clear heights, 43 dock high doors and rear-loading capabilities. Parkside sits within the thriving industrial market of Knoxville and is currently leased to WestRock (NYSE:WRK) and Kimberly Clark (NYSE:KMB).
The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Managing Director Jim Curtin and Senior Director Jarrod McCabe.
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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About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 108,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Blue Ridge Industrial
Blue Ridge Industrial, LLC is a real estate private equity firm based in Dallas, Texas, that acquires and manages functional, well-located industrial properties. Founded in 2018 by Michael Trapani and Nate Leifeld, BRI has acquired 76 buildings in 6 markets totaling 3.8 million square feet. More information about Blue Ridge Industrial can be found at bri-re.com.