MORRISTOWN, N.J., Jan. 19, 2021 - JLL Capital Markets announced today that it has arranged $48.8 million in financing for Cohen Asset Management's acquisition of an 18-building industrial portfolio totaling approximately 725,000 square feet across the Meadowlands and surrounding markets in New Jersey.

JLL worked on behalf of Cohen Asset Management to place the seven-year, fixed-rate loan with Principal Real Estate Investors.

The portfolio is located in some of the most densely populated areas of Northern New Jersey in highly demanded infill locations in the Meadowlands and surrounding markets. The properties offer exceptional access to New York City via the Lincoln and Holland Tunnels and the George Washington Bridge. Additionally, the properties are easily accessible from key Northern New Jersey highways, including the New Jersey Turnpike and Interstate 80.

The portfolio is primarily comprised of single-tenanted and multi-tenanted shallow bay industrial warehouses ranging between 16,000 and 78,000 square feet in size. Fully leased at acquisition, the portfolio is home to a diverse mix of tenants ranging from multi-national corporations to regional and local companies.

The JLL Capital Markets team representing the borrower was led by Senior Managing Director Jon Mikula and Vice President Michael Lachs.

'This was an exciting acquisition to be part of, especially during COVID,' Mikula said. 'Industrial continues to be in high demand by lenders and investors alike.'

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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Jones Lang LaSalle Inc. published this content on 19 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 January 2021 16:05:01 UTC