{"id":1004592184,"date":"2022-07-19T02:36:00","date_gmt":"2022-07-19T10:36:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004592184"},"modified":"2022-12-08T18:52:34","modified_gmt":"2022-12-09T02:52:34","slug":"ares-management-lands-368m-for-logistics-portfolio-buy","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/ares-management-lands-368m-for-logistics-portfolio-buy\/","title":{"rendered":"Ares Management Lands $368M for Logistics Portfolio Buy"},"content":{"rendered":"
\"2000<\/a>

2000 Bishops Gate Blvd., Mount Laurel, N.J. Image courtesy of Cushman & Wakefield<\/p><\/div>\n

In its capacity as exclusive advisor to an Ares Management Real Estate<\/strong> fund, Cushman & Wakefield<\/strong> assisted with procuring $367.8 million for the financing of a 23-building, 3 million-square-foot Mid-Atlantic logistics portfolio. J.P. Morgan acted as administrative agent on the loan.<\/p>\n

The fully leased portfolio is concentrated along the I-95 distribution corridor, with locations in New Jersey, Pennsylvania and Maryland. Because all buildings are situated within the Mid-Atlantic region, the portfolio can service a large geographic range of consumers spanning multiple cities, including New York, Philadelphia, Baltimore and Washington, D.C.<\/p>\n

\n

READ ALSO<\/strong>: Why CRE Investors Are Rethinking Refinancing<\/a><\/p>\n

\n

Specific properties include 2000 Bishops Gate Blvd. in Mount Laurel, N.J.; 3201 Pennsy Drive in Landover, Md.; and 50 Route 46 East in Totowa, N.J.<\/p>\n

The portfolio is 100 percent leased to 41 tenants, ranging in size from 7,238 square feet to 478,715 square feet.<\/p>\n

Cushman & Wakefield\u2019s Equity, Debt & Structured Finance team of John Alascio, Alex Hernandez, Alex Lapidus, Chuck Kohaut, T.J. Sullivan and Jason Blankfein represented the borrower in the transaction.<\/p>\n

In a prepared statement, Alascio called the portfolio \u201cwell-situated to capitalize on the industrial sector\u2019s rapid expansion within the Mid-Atlantic region with stable market rents and low vacancy rates.\u201d<\/p>\n

He added, \u201cWe were able to achieve competitive financing terms because of the portfolio\u2019s ideal location throughout the most prolific industrial pockets in the country and its ability to greatly benefit from the sustained e-commerce growth.\u201d<\/p>\n

Popular spots<\/h2>\n

The Mid-Atlantic region is definitely an active one for industrial properties.<\/p>\n

In May, CT Realty<\/strong> and PGIM Real Estate<\/strong> acquired a 282-acre site<\/a> in Pennsville, N.J., in metro Philadelphia, on which they are developing a two-building, 1.7 million-square-foot business park. The location was a brownfield site, formerly occupied by a coal-fired power plant.<\/p>\n

In February, Stalwart Equities landed $42.8 million<\/a> in acquisition financing for a 171.3-acre development site in Logan Township, N.J. The parcel is zoned for more than 1 million square feet of distribution space in two buildings.<\/p>\n

In a deal farther south, last December Ares Management sold<\/a> a 1.4 million-square-foot in Savannah, Ga., for a reported $161 million.<\/p>\n","protected":false},"excerpt":{"rendered":"

J.P. Morgan acted as administrative agent on the loan.<\/p>\n","protected":false},"author":882,"featured_media":1004592202,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21825,21748,11,21742],"tags":[44687,32799,43145],"class_list":["post-1004592184","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-finance","category-industrial","category-midatlantic","category-latest","tag-ares-management-corp","tag-cushman-wakefield","tag-j-p-morgan"],"acf":[],"yoast_head":"\nAres Management Lands $368M for Logistics Portfolio Buy - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Cushman & Wakefield arranged $367.8 million in acquisition financing for Ares Management's purchase of a 23-building logistics portfolio.\" \/>\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\/ares-management-lands-368m-for-logistics-portfolio-buy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ares Management Lands $368M for Logistics Portfolio Buy\" \/>\n<meta property=\"og:description\" content=\"Cushman & Wakefield arranged $367.8 million in acquisition financing for Ares Management's purchase of a 23-building logistics portfolio.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/ares-management-lands-368m-for-logistics-portfolio-buy\/\" \/>\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=\"2022-07-19T10:36:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T02:52:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/07\/2000-Bishops-Gate-Mount-Laurel-N.J.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"823\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\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\/ares-management-lands-368m-for-logistics-portfolio-buy\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/ares-management-lands-368m-for-logistics-portfolio-buy\/\",\"name\":\"Ares Management Lands $368M for Logistics Portfolio Buy - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/ares-management-lands-368m-for-logistics-portfolio-buy\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/ares-management-lands-368m-for-logistics-portfolio-buy\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/07\/2000-Bishops-Gate-Mount-Laurel-N.J.jpg\",\"datePublished\":\"2022-07-19T10:36:00+00:00\",\"dateModified\":\"2022-12-09T02:52:34+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\"},\"description\":\"Cushman & Wakefield arranged $367.8 million in acquisition financing for Ares Management's purchase of a 23-building logistics portfolio.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/ares-management-lands-368m-for-logistics-portfolio-buy\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/ares-management-lands-368m-for-logistics-portfolio-buy\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/ares-management-lands-368m-for-logistics-portfolio-buy\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/07\/2000-Bishops-Gate-Mount-Laurel-N.J.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/07\/2000-Bishops-Gate-Mount-Laurel-N.J.jpg\",\"width\":823,\"height\":600,\"caption\":\"2000 Bishops Gate Blvd., Mount Laurel, N.J. 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