Brookfield Lands $380M CMBS Loan for Industrial Portfolio

October 16, 2025

The funds will refinance more than 30 properties across five states.

Exterior shot of Park 12 Hundred, a two-building industrial campus in Westminster, Colo. — The largest industrial property in the portfolio is Park 12 Hundred Powerhouse, a 535,703-square-foot campus in Westminster, Colo. *Image courtesy of Yardi Matrix.*

Brookfield Asset Management will get a $380 million CMBS financing package backed by a 31-property industrial collection encompassing 4.5 million square feet, according to a Fitch Ratings report.

The CMBS mortgage is scheduled to close on October 29th, with Wells Fargo Bank and Deutsche Bank as co-originators.

Trimont is the master servicer in charge, while SitusAMC is the special servicer assigned, and Computershare Trust Co. is serving as trustee.

Brookfield is working in a joint venture with ATCAP Partners, a Dallas-based real estate investment company. The partnership was formed back in 2022, when the two companies purchased a 3.5 million-square-foot logistics portfolio.

The two-year, floating-rate interest-only mortgage will include three one-year extension possibilities. The portfolio includes 55 buildings and one excess land parcel in seven markets across Texas, Oklahoma, Colorado, Florida and Missouri. These regions have seen sustained demand, aligning with broader industrial market trends across secondary logistics hubs.

Brookfield purchased this portfolio in a series of transactions and recapitalizations between December 2021 and April 2023. Loan proceeds will be used to refinance a $308 million existing debt and to recapitalize nearly $45.8 million in unencumbered assets. Other proceeds will go toward closing costs, amounting to $7.6 million, and $17.9 million in returned equity.

The collection includes 27 warehouses and distribution centers and three flex industrial buildings. Counting 190 tenants, the portfolio’s occupancy was 91.2 percent as of June 2025, according to a KBRA pre-sale report. Built between 1965 and 2020, these facilities include clear heights ranging from 14- to 36-feet, with an average of 22 feet.

The Texas collection is the largest in the portfolio. It includes 22 properties totaling 2.5 million square feet in the Dallas-Fort Worth, Houston and Austin,Texas, metros. There are also six assets totaling 911,821 square feet in Oklahoma. The rest of the properties include a 167,958-square-foot building in Florida, a 336,383-square-foot facility in Missouri, and a 535,703-square-foot industrial asset in Colorado.

Industrial loans on the rise

CMBS loans, including all asset types in the country, were down 10 percent during the second quarter of the year compared to the same period in 2024, a report by the Mortgage Bankers Association shows. All commercial and multifamily mortgage loan originations recorded a 66 percent increase from 2024’s second quarter, while industrial properties recorded a 53 percent jump in originations, on a year-over-year basis, and a 102 percent quarter-over-quarter increase.

Similar financing agreements include TPG Real Estate’s recent $408 million CMBS agreement. The loan is backed by a 50-property industrial portfolio and one land parcel in five states and six markets, originated by Goldman Sachs and Bank of America.

LXP Industrial Trust, in a joint venture with Davidson Kempner Capital Management also obtained a $376 million CMBS loan for a 6.3 million-square-foot portfolio. The national collection consists of 20 properties spread across 11 states, with the largest part of the portfolio situated in Kentucky.