{"id":1004187023,"date":"2017-08-15T07:29:59","date_gmt":"2017-08-15T15:29:59","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004187023"},"modified":"2022-12-03T03:41:59","modified_gmt":"2022-12-03T11:41:59","slug":"wd-seals-98m-fl-industrial-deal","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/wd-seals-98m-fl-industrial-deal\/","title":{"rendered":"W&amp;D Seals $96M FL Industrial Deal"},"content":{"rendered":"<p>By Barbra Murray<\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Florida-Portfolio-courtesy-of-Walker-Dunlop-002.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004187025\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/wd-seals-98m-fl-industrial-deal\/florida-portfolio-courtesy-of-walker-dunlop-002\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Florida-Portfolio-courtesy-of-Walker-Dunlop-002.jpg\" data-orig-size=\"548,336\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Florida Portfolio courtesy of Walker Dunlop (002)\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Florida-Portfolio-courtesy-of-Walker-Dunlop-002.jpg?w=548\" class=\"alignright size-medium wp-image-1004187025\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Florida-Portfolio-courtesy-of-Walker-Dunlop-002.jpg\" alt=\"Florida Portfolio courtesy of Walker Dunlop (002)\" width=\"300\" height=\"184\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Florida-Portfolio-courtesy-of-Walker-Dunlop-002.jpg 548w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Florida-Portfolio-courtesy-of-Walker-Dunlop-002.jpg?resize=300,184 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>Walker &amp; Dunlop Inc. recently closed a $96 million loan package for a 1.6 million-square-foot industrial portfolio in Florida, and did so in a flash\u2014just 45 days, to be precise. The firm orchestrated the financing for the assets, located in Miami and Fort Lauderdale, through one of its life company correspondents.<\/p>\n<h2>Baker&#8217;s Dozen<\/h2>\n<p>The financing comes in the form of 13 loans, one for each of the portfolio\u2019s 13 properties, and features what W&amp;D describes as an attractive interest rate. The group of industrial facilities turned the heads of the lending community. <em>\u201cBecause of the record-low vacancies, rising rents and lender appetite for this asset type, lenders are extremely competitive, and that leads to better loan terms for our borrowers,\u201d<\/em> Nikki Perez, senior analyst with Walker &amp; Dunlop Inc., told <em>Commercial Property Executive<\/em>.<\/p>\n<p>South Florida\u2019s industrial sector is hard to ignore. In the Miami-Dade area, Walker &amp; Dunlop notes, such factors as regional population growth, expansion of the Miami International Airport and the Port of Miami are driving demand.<\/p>\n<p>Fort Lauderdale is benefiting from Broward County\u2019s overall dearth of developable land and shortage of available industrial square footage, according to a report by commercial real estate services firm CBRE.\u00a0 The numbers tell the story. The total vacancy rate in metropolitan Miami was just 3.3 percent in the second quarter of 2017, per the CBRE report, and only 3.2 percent in Fort Lauderdale.<\/p>\n<h2>South Florida Factors<\/h2>\n<p>The source of the industrial sector\u2019s success is multi-faceted. <em>\u201cI\u2019d say [industrial demand] is driven by companies that are tied to commercial and residential developments, think Floor &amp; D\u00e9cor and Pet Supermarket. Both signed deals in Broward least year for more than 80,000 square feet each,\u201d<\/em> Perez said. <em>\u201cSince new supply is scarce, companies like these are hungrier for space more than ever. For us here in South Florida, the Port of Miami is also giving way to larger ships that carry in a lot more cargo. This has increased the need and desire for warehouse space as well.\u201d<\/em><\/p>\n<p>W&amp;D asserts that the Florida portfolio transaction is indicative of an increasing need for industrial financing across the country, and the company has acted accordingly by substantially expanding its presence in the sector.\u00a0 In 2016, W&amp; D closed industrial loans exceeding $549 million for a total of 62 assets. It appears 2017 will prove even more active for the company, with loans and total volume in the first half of the year having surpassed those completed in the first half of 2016.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The loan package covers 13 properties in Miami and Fort Lauderdale. Strong fundamentals make South Florida attractive to lenders. <\/p>\n","protected":false},"author":969,"featured_media":1004187025,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,21748,21783,1492,21742,32781],"tags":[],"class_list":["post-1004187023","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-industrial","category-investment","category-miami","category-latest","category-southeast"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>W&amp;D Seals $96M FL Industrial Deal - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/wd-seals-98m-fl-industrial-deal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"W&amp;D Seals $96M FL Industrial Deal\" \/>\n<meta property=\"og:description\" content=\"The loan package covers 13 properties in Miami and Fort Lauderdale. 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