{"id":1004586681,"date":"2022-06-20T10:48:59","date_gmt":"2022-06-20T18:48:59","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004586681"},"modified":"2022-12-08T19:06:21","modified_gmt":"2022-12-09T03:06:21","slug":"industrial-service-facilities-portfolio-reels-in-61m-loan","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/industrial-service-facilities-portfolio-reels-in-61m-loan\/","title":{"rendered":"Industrial Service Facilities Portfolio Reels in $61M Loan"},"content":{"rendered":"
\"Acting<\/a>

590 Broadway in Menands N.Y. Image via Google Street View<\/p><\/div>\n

Acting on behalf of Biynah Industrial Partners<\/strong>, JLL Capital Markets<\/strong> has orchestrated a financing deal for the acquisition of a national industrial portfolio spanning 17 leading markets.<\/p>\n

Biynah purchased the collection of more than 20 last-mile facilities with the assistance of a $61 million loan. All parties involved in the transaction are remaining mum on many of the details, including the specific square footage of the group of properties, but all signs indicate that Realterm<\/strong> was the seller.<\/p>\n

Matthew Schoenfeldt, a managing director with JLL Capital Markets, and Lucas Borges, a director with the firm, represented Biynah in the transaction. The portfolio, which is 93 percent leased, was well received by the lending community.<\/p>\n

\u201cWe received 10 very attractive quotes from insurance companies, banks\u2014both domestic and foreign\u2014as well as credit funds,\u201d Schoenfeldt told Commercial Property Executive<\/em>. The financing came in the form of a loan with a floating rate that is synthetically fixed via a bank SWAP.<\/p>\n

Semi-national coverage<\/strong><\/h2>\n

The portfolio is located in key areas of the Southeast, Mid-Atlantic, New England and Central U.S., and consists of industrial service facilities, a specialized asset class<\/a> that JLL Capital Markets describes as a rapidly growing, multibillion-dollar industrial sub-sector that has quickly become a favorite among real estate investors as well as lenders.<\/p>\n

Basically, ISFs are industrial properties with a substantial outdoor storage component that facilitates a wide range of essential supply chain functions. \u201cSpecifically to this portfolio, last-mile, cross-dock truck terminals, and transload properties operate as a supply chain management tool that allows companies to sort and reconsolidate incoming freight and facilitate the rapid and high-volume handling of goods to their final destination,\u201d Borges told CPE<\/em>.<\/p>\n

\n

READ ALSO<\/strong>: The Impact of Interest Rates and Inflation on Industrial Real Estate<\/a><\/p>\n

\n

Assets in the portfolio include the 131,00-square-foot warehouse and distribution facility at 590 Broadway in Menands N.Y., and 1785 O\u2019Rourke Blvd., a 3-acre facility currently leased to FedEx Freight in Gaylord, Mich. The newly traded collection is leased to a total of 18 businesses.<\/p>\n

A buying kind of mood<\/strong><\/h2>\n

To date, June has proved a busy month for Biynah. Less than two weeks ago, the company and joint venture partner Alex. Brown Realty<\/strong> made a notable move to grow their portfolio of truck terminals and high flow-through industrial assets with the acquisition of four assets. The partners\u2019 transportation-centric portfolio now totals 11 assets throughout the Midwest.<\/p>\n","protected":false},"excerpt":{"rendered":"

JLL Capital Markets arranged the acquisition financing on behalf of Biynah Industrial Partners.<\/p>\n","protected":false},"author":969,"featured_media":1004586702,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,22251,21748,21783,23891,21742],"tags":[32946,37719,44006,49252],"class_list":["post-1004586681","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-in-focus","category-industrial","category-investment","category-national","category-latest","tag-alex-brown-realty-inc","tag-biynah-industrial-partners","tag-jll-capital-markets","tag-realterm"],"acf":[],"yoast_head":"\nIndustrial Service Facilities Portfolio Reels in $61M Loan - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Biynah Industrial Partners purchased 21 last-mile facilities with the assistance of a $61 million loan arranged by JLL Capital Markets.\" \/>\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\/industrial-service-facilities-portfolio-reels-in-61m-loan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Industrial Service Facilities Portfolio Reels in $61M Loan\" \/>\n<meta property=\"og:description\" content=\"Biynah Industrial Partners purchased 21 last-mile facilities with the assistance of a $61 million loan arranged by JLL Capital Markets.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/industrial-service-facilities-portfolio-reels-in-61m-loan\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2022-06-20T18:48:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T03:06:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/590-Broadway-Menands-N.Y.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"796\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/industrial-service-facilities-portfolio-reels-in-61m-loan\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/industrial-service-facilities-portfolio-reels-in-61m-loan\/\",\"name\":\"Industrial Service Facilities Portfolio Reels in $61M Loan - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/industrial-service-facilities-portfolio-reels-in-61m-loan\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/industrial-service-facilities-portfolio-reels-in-61m-loan\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/590-Broadway-Menands-N.Y.jpg\",\"datePublished\":\"2022-06-20T18:48:59+00:00\",\"dateModified\":\"2022-12-09T03:06:21+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d1edda962dd3af55af8a203870f9fc32\"},\"description\":\"Biynah Industrial Partners purchased 21 last-mile facilities with the assistance of a $61 million loan arranged by JLL Capital Markets.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/industrial-service-facilities-portfolio-reels-in-61m-loan\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/industrial-service-facilities-portfolio-reels-in-61m-loan\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/industrial-service-facilities-portfolio-reels-in-61m-loan\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/590-Broadway-Menands-N.Y.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/590-Broadway-Menands-N.Y.jpg\",\"width\":796,\"height\":600,\"caption\":\"590 Broadway in Menands N.Y. 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