News release

New England industrial portfolio acquisition financed for $9.1M

JLL Capital Markets arranged the loan for Boston-based Rhino Capital Advisors

January 29, 2021

BOSTON, Jan. 29, 2021JLL Capital Markets announced today that it has arranged $9.1 million in acquisition financing for a fully leased, two-building industrial portfolio totaling 179,573 square feet in the northern Boston suburbs of Billerica and Lowell, Massachusetts.

JLL worked on behalf of the borrower, Boston-based Rhino Capital Advisors LLC (Rhino), to place the five-year, fixed-rate loan with Webster Five Cents Savings Bank. Loan proceeds will be used to purchase the assets.

The portfolio is fully leased to Sterling Corporation, a privately held integrated warehousing, distribution and logistics solutions provider serving the Northeast. The portfolio properties include two assets in the Greater Boston area at 263 Industrial Avenue in Lowell and 27 Sterling Road in Billerica within the established North Boston Industrial market. This growing market is filled with corporate demand and proximate to Boston, allowing industrial tenants to take advantage of Boston’s increasingly e-commerce-driven economy.

The JLL Capital Markets Debt Placement team representing the borrower was led by Managing Director Brett Paulsrud, Associate Amy Lousararian and Analyst Madeline Joyce.

“It has been exciting to watch Rhino continue to build its portfolio north of the city,” Paulsrud said. “The market fundamentals for flex and industrial space remain robust, and the Sterling portfolio is a valuable addition for the Rhino team.”

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 $18.0 billion in 2019, operations in over 80 countries and a global workforce of over 92,000 as of September 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit

About Rhino Capital Advisors LLC

Rhino Capital Advisors LLC is a privately held, Boston-based investment management firm servicing and advising its array of investors, including HNW syndicates and institutional capital partners. Rhino deploys human and capital resources to actively manage its existing operating assets and to implement renovation and repositioning of capital programs at each property.

Rhino works closely with a network of vendors to ensure daily onsite oversight of every asset. Rhino capitalizes on the diverse experience of its team and vendors to provide to investors institutional grade investment management and access to off-market opportunities in the Greater Boston area.