News release

Last-mile logistics and office portfolio refinanced with $38M loan

JLL Capital Markets led financing efforts for the 15-building, industrial-flex portfolio located near the Louis Armstrong New Orleans International Airport 

April 07, 2021

NEW YORK – Apr. 7, 2021 – JLL Capital Markets announced today that it has arranged a $38 million refinancing for a 15-building, industrial-flex portfolio located in St. Rose, Louisiana.

JLL worked on behalf of the borrower, Briar Meads Capital, to secure the 10-year, fixed-rate CMBS loan through Starwood Mortgage Capital.

The portfolio comprises 13 logistics assets and two office assets totaling nearly 600,000 square feet within the James Business Park. The properties are home to a diverse roster of more than 50 tenants with an average tenant size of approximately 10,000 square feet.

The portfolio benefits from a strategic location proximate to transportation routes in New Orleans, including the Louis Armstrong New Orleans International Airport, The Port of New Orleans, Interstate 10, and U.S. 61 and 90.

JLL’s Capital Markets team representing the borrower was led by Managing Director Peter Rotchford and Associate Mitchell Kaliner.

“Given the supply constrained nature of the New Orleans market and the fact that it does not make much economic sense to build new industrial-flex product due to prohibitive construction costs, the portfolio has seen strong demand for space,” said Rotchford.

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 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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About JLL

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 $16.6 billion, operations in over 80 countries and a global workforce of more than 91,000 as of December 31, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit

About Briar Meads Capital

Briar Meads Capital was formed to acquire loan assets from financial institutions after the 2008 financial crisis. Since its founding, the firm has evolved into a diversified real estate investment management company. Briar Meads Capital, together with its strategic partners, has completed more than 70 transactions with acquisition value in excess of $600 million.