{"id":1004121873,"date":"2015-06-23T11:00:35","date_gmt":"2015-06-23T19:00:35","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=353435"},"modified":"2022-12-07T00:27:38","modified_gmt":"2022-12-07T08:27:38","slug":"canadian-investment-trust-lands-mortgages-on-fedex-warehouses","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/canadian-investment-trust-lands-mortgages-on-fedex-warehouses\/","title":{"rendered":"Canadian Investment Trust Lands Mortgages on FedEx Warehouses"},"content":{"rendered":"<p style=\"text-align: justify\"><em>By Anca Gagiuc, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify\">Canadian investment trust Pure Industrial Real Estate Trust (PIRET) has expanded its industrial portfolio by obtaining financing for eight of 11 properties in a FedEx distribution center.<\/p>\n<div id=\"attachment_353436\" class=\"wp-caption alignleft\" style=\"width: 310px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/06\/15904-Impact-Way-Austin.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-353436\" title=\"15904 Impact Way, Austin\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/06\/15904-Impact-Way-Austin.jpg\" alt=\"15904 Impact Way, Austin\" width=\"300\" height=\"183\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">15904 Impact Way, Austin<\/p>\n<\/div>\n<p style=\"text-align: justify\">Working on behalf of the borrower, HFF secured $98.8 million in acquisition financing for the portfolio, which is 100 percent leased to FedEx and totals 1.5 million square feet in Texas, California, Florida, Illinois and New Jersey. The HFF debt placement team was led by director Kenneth Martin and real estate analyst Federico Boscaini. The mortgages bear interest at 3.8 percent per annum over a term of seven years.<\/p>\n<p style=\"text-align: justify\">The assets include the Schertz property, a newly constructed, Class A logistics facility encompassing 202,763 square feet on a 26-acre site 20 miles northeast of San Antonio, with access to Interstate 35 and Charles West Anderson Loop, just two miles from a 1.2 million-square-foot Amazon fulfillment center. The Pflugerville site is a Class A logistics facility located at 15904 Impact Way, with a total rentable area of 199,865 square feet. The 33-acre site is 20 miles north of Austin, within the 160-acre master-planned commercial development \u201c130 Commerce Center.\u201d The other properties in the portfolio include:<\/p>\n<div id=\"attachment_353439\" class=\"wp-caption alignright\" style=\"width: 310px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/06\/9929-9943-Doerr-Lane-San-Antonio.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-353439\" title=\"9929 &amp; 9943 Doerr Lane, San Antonio\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/06\/9929-9943-Doerr-Lane-San-Antonio.jpg\" alt=\"9929 &amp; 9943 Doerr Lane, San Antonio\" width=\"300\" height=\"183\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">9929 &amp; 9943 Doerr Lane, San Antonio<\/p>\n<\/div>\n<ul style=\"text-align: justify\">\n<li>200 Old Ranch Road in the City of Industry, Calif. &#8211; 218,611\u00a0square feet<\/li>\n<li>5731 Premier Mark Drive \u00a0in West Palm Beach, Fla. &#8211; 119,165\u00a0square feet<\/li>\n<li>7800 Turkey Hollow Road in Rock Island, Ill. &#8211; 189,926\u00a0square feet<\/li>\n<li>1234 Peterson Drive in Wheeling, Ill. &#8211; 147,006\u00a0square feet<\/li>\n<li>5 Commerce Drive in Barrington, N.J. &#8211; 200,610\u00a0square feet<\/li>\n<li>1 Commerce Center Drive in Dover, N.J. &#8211; 171,907\u00a0square feet<\/li>\n<\/ul>\n<p style=\"text-align: justify\">\u201cHFF welcomed the opportunity to assist PIRET in securing financing for the portfolio acquisition, which represented PIRET\u2019s first major investment in industrial real estate in the United States after years of success building a portfolio in Canada,\u201d Martin said.<\/p>\n<p style=\"text-align: justify\"><em>Photos courtesy of piret.ca.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Canadian investment trust Pure Industrial Real Estate Trust (PIRET) has expanded its industrial portfolio by obtaining financing for eight of 11 properties in a FedEx distribution center.<\/p>\n","protected":false},"author":237,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1578,21742,1607],"tags":[],"class_list":["post-1004121873","post","type-post","status-publish","format-standard","hentry","category-austin","category-latest","category-san-antonio"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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