Jones Lang LaSalle Incorporated : $115M financing arranged for 1.6M-square foot industrial portfolio

DENVER, Jan. 6, 2022 -JLL Capital Markets announced today that it has arranged a $115 million refinancing of a six-property, fully leased, Class A industrial portfolio totaling 1.6 million square feet. The portfolio spans across five highly sought-after, last mile markets - Cincinnati, Indianapolis, Las Vegas, San Antonio and San Francisco.

JLL worked with New York Life Real Estate Investors on behalf of the borrower, a fund managed by a subsidiary of Ares Management Corporation, to place the five-year, fixed-rate loan with New York Life Insurance Company.

Designed for the modern industrial user, the portfolio is fully leased to 13 diverse, credit tenants with a weighted average lease term of 4.6 years. Three of the properties were constructed in 2017 and all feature elevated clear heights with ample loading positions, parking and trailer stalls. Additionally, each property features excellent access to large regional airports, downtown metros and some of the most heavily trafficked interstates across the U.S.

The JLL Capital Markets team representing the borrower was led by Senior Managing Directors Eric Tupler and Ken Martin, Senior Director CW Sheehan, Director Carl Beardsley and Associate Taylor Gimian.

"The combination of superior sponsorship combined with high-quality core industrial assets attracted significant lender capital to this financing," Tupler said.

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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