$69.1M financing secured for 33-building industrial portfolio in Los Angeles
JLL Capital Markets arranged post-close acquisition financing for Walnut Business Park, a light industrial portfolio in Walnut, Calif.
LOS ANGELES, Feb. 08, 2023 – JLL Capital Markets announced today that it has arranged $69.1 million in post-close acquisition financing for Walnut Business Park, a 33-building light industrial portfolio totaling 334,824 square feet located in Walnut, California.
JLL represented the borrower, IDS Real Estate Group, to secure financing with MetLife Investment Management.
Positioned on ±22.6 acres at the northeast corner of Valley Boulevard and South Lemon Avenue in the desirable infill San Gabriel Valley submarket of Los Angeles, Walnut Business Park is adjacent to CA-60 and the CA-60/CA-57 interchange with additional connectivity to Interstates 10 and 5.
The JLL Capital Markets Debt Advisory team was led by Senior Director Matt Stewart and Analyst Chris Jaffe.
“Despite macro headwinds, demand for core industrial real estate remains strong. We worked with MetLife Investment Management to structure a highly bespoke financing solution that achieved all the sponsor’s objectives,” said Stewart.
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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Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.
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 September 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About IDS Real Estate Group
Founded in 1986, IDS Real Estate Group (“IDS”) is a vertically integrated, privately held real estate owner, operator, developer, and asset manager headquartered in Los Angeles, with offices in San Diego, Orange County, Santa Clara, and Seattle. IDS offers a wide range of services including investment management, property management, marketing, leasing, development, tenant, and capital market services. In addition to its 40 million square foot property management portfolio, the firm’s affiliates currently own approximately $3 billion in assets across its various institutional investment platforms.