Fundrise Obtains $353M Refi for Industrial Collection

August 18, 2025

The portfolio comprises more than 3 million square feet.

Fundrise has secured a $352.7 million refinancing loan for a 12-property industrial portfolio encompassing nearly 3.2 million square feet across Sun Belt and Mid-Atlantic markets. Goldman Sachs and TPG Real Estate Credit provided the debt in a deal arranged by JLL.

The warehouses have cross-dock configurations and clear heights ranging between 23 and 40 feet. The collection is leased to various tenants operating within industries such as third-party logistics, distribution and technology.

The properties are scattered throughout Maryland, Virginia, Florida, Texas, Nevada, Georgia and Arizona, Commercial Observer reported. Additionally, the buildings are near major transportation networks, such as international airports and interstate corridors.

JLL Managing Director Robert Carey, Senior Managing Director Carl Beardsley and Senior Director Jason Carlos, as well as Associates Gus Caiola and Patrick Wu, arranged the financing.

Fundrise’s approach to industrial

Fundrise is a direct-to-investor fintech real estate platform that debuted in 2012. It currently has $3 billion in assets under management and more than 2 million users. The firm invests across industrial, multifamily and build-to-rent markets.

Notably, the company entered the co-warehousing market with a $128 million investment in 2022. It pledged to acquire properties ranging from 50,000 to 150,000 square feet to be utilized by Saltbox.

Last year, Fundrise obtained a $125 million refinancing loan for a four-property portfolio encompassing 1.1 million square feet. Among the warehouses was a 66,060-square-foot building occupied by Saltbox in the Metroplex.

Large industrial refinancing deals carry on

Despite tariff uncertainties, industrial debt origination picked up the pace during the second quarter with a 53 percent increase year-over-year and a solid 102 percent growth quarter-over-quarter, an MBA report shows.

Financing deals continued well into summer, building on previous momentum. Just last month, Alterra IOS landed a $343.6 million loan from Truist Financial Corp. and Bank of Montreal to refinance a 64-property collection.

Also in July, Irvine Co. secured a $98.9 million refinancing loan for a 558,000-square-foot industrial park in Orange County, Calif. OneAmerica originated the debt, which retired a previous $48.5 million note.