Merritt Lands $621M for Mid-Atlantic Portfolio

July 22, 2026

Industrial Baltimore Featured Finance More Mid-Atlantic News Washington D.C.

JLL Capital Markets brokered the deal on behalf of the ownership.

Exterior shot of an industrial facility. — The 58 assets in the portfolio are located across the Baltimore-Washington, D.C. metropolitan areas. *Image courtesy of JLL Capital Markets*

Merritt Properties has secured a $621 million refinancing loan for a portion of its Maryland Industrial Portfolio, one of the largest privately owned light industrial portfolios in the Mid-Atlantic. M&T Bank issued the fully underwritten, seven-year note in a deal arranged by JLL Capital Markets.

The Maryland Industrial Portfolio comprises 58 assets totaling approximately 6.3 million square feet. The facilities are located across Baltimore and Washington, D.C., more specifically along the BWI Corridor, Northwest Baltimore, Interstate 95 and Hagerstown, Md.

JLL Capital Markets Senior Managing Directors Pete Pittroff, Anthony Fertitta and Travis Anderson, Senior Director Evan Parker and Director Christopher Pratt led the debt advisory team that secured the refinancing on behalf of Merritt Properties and its affiliates.

Earlier this month, Centerbridge Partners paid $750 million to Almanac, the private real estate investment arm of Neuberger, to acquire a stake in Merritt Properties. The deal supports Merritt’s shallow-bay industrial development and acquisition power across the states of Maryland, Virginia, North Carolina and Florida, and boosts the firm’s capability to expand into new markets.

Recent industrial portfolio refinancing deals

Noteworthy industrial portfolio refinancing deals this month include the $950 million loan secured by a partnership comprising Blackstone, GIC and LBA for a 41-asset portfolio. Co-originated by Wells Fargo and JPMorgan Chase, the single-borrower refinancing loan has an initial two-year term and up to three one-year extension options.

In the first quarter of this year, MDH Partners received $946.8 million to refinance 59 industrial properties located across 15 states. Wells Fargo provided the majority of the sum, namely $768.8 million, while ACORE issued $160 million. Similarly, Faropoint received $273 million in financing for a 61-asset portfolio of light, infill industrial properties totaling almost 3.5 million square feet.