JLL secures $130M post-acquisition loan for industrial portfolio
The 22-building portfolio is in Chicago, Columbus, Indianapolis, Louisville and Cincinnati
DENVER, January 7, 2020 – JLL Capital Markets announced today that it has arranged $130 million in post-acquisition financing for a 22-building logistics portfolio totaling 3.78 million square feet of industrial space with properties in and around Chicago, Columbus, Indianapolis, Louisville and Cincinnati.
JLL worked on behalf of a U.S. subsidiary of a publicly traded Canadian real estate company to place the 10-year, 3.10% fixed-rate loan with a national balance sheet lender. Loan proceeds will be used to place debt on the portfolio as it was purchased all cash earlier in the year.
The portfolio features quality industrial assets built between 1966 and 2016 and located in strong, infill locations across major markets in the midwestern United States. The locations provide ideal access to major highways, intermodals and air cargo distribution hubs. The portfolio is approximately 90% leased to 52 tenants.
The JLL Capital Markets Debt Placement team representing the borrower included Senior Director Kristian Lichtenfels, Senior Managing Director Eric Tupler, Managing Director Matthew Schoenfeldt and Senior Managing Director Ken Martin.
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 advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of more than 93,000 as of September 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.