{"id":1004687878,"date":"2023-10-30T06:18:29","date_gmt":"2023-10-30T14:18:29","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004687878"},"modified":"2023-10-31T01:13:01","modified_gmt":"2023-10-31T09:13:01","slug":"jll-arranges-869m-refi-for-industrial-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/jll-arranges-869m-refi-for-industrial-portfolio\/","title":{"rendered":"JLL Arranges $869M Refi for Industrial Portfolio"},"content":{"rendered":"
\"An<\/a>

JLL Capital Markets recently arranged acquisition financing for The Triad Industrial Portfolio, which spreads across nearly 126 acres. Image courtesy of JLL Capital Markets<\/em><\/p><\/div>\n

An undisclosed borrower has secured $869 million in financing for an 11.4 million-square-foot industrial portfolio. Northwestern Mutual<\/strong> provided two loans totaling $259 and $195 million, while PGIM Real Estate<\/strong> supplied a $415 million note. JLL Capital Markets <\/strong>brokered the transactions working on behalf of the borrower and securing the fixed-rate loans.<\/p>\n

The Class A bulk industrial portfolio comprises 25 properties spread across 13 major industrial markets. Fully leased by 42 diverse tenants, the portfolio has an average clear height of 35 feet and an average completion date of 2020.<\/p>\n

Senior Managing Director John Rose, Associate Ryan Pollack and Analyst Luke Rogers led the JLL team which represented the borrower. The brokers worked alongside Northwestern\u2019s Kevin Westra and Bob Henning, as well as PGIM\u2019s Paul Geyer.<\/p>\n

Recently, another JLL Capital Markets team arranged acquisition financing on behalf of Blue Ridge Industrial. The company purchased a 28-property light industrial portfolio totaling 1.4 million square feet<\/a> in North Carolina\u2019s Triad region, for $105 million.<\/p>\n

The industrial sector surpassed expectations<\/h2>\n

The industrial market surpassed initial expectations in the first half of 2023, continuing to thrive despite numerous challenges. According to CommercialEdge data, approximately 262.3 million square feet of industrial space was completed in the first half of the year on a national level. The same source shows that deliveries were up 28.6 percent, compared to the first half of 2022.<\/p>\n

The Dallas-Fort Worth market ranked first<\/a> for industrial deliveries in the first six months of 2023, based on the total square footage added to the inventory. The metro’s construction activity remains one of the most active in the country, adding around 29.3 million square feet of space, or 11.2 percent of total stock, between January and June 2023.<\/p>\n","protected":false},"excerpt":{"rendered":"

Comprising 25 Class A properties, the facilities are spread across 13 major U.S. markets.<\/p>\n","protected":false},"author":3014,"featured_media":1004686425,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,21783,23891,21742],"tags":[32796,37376,34714],"class_list":["post-1004687878","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-national","category-latest","tag-jll","tag-northwestern-mutual","tag-pgim-real-estate"],"acf":[],"yoast_head":"\nJLL Arranges $869M Refi for Industrial Portfolio - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"An undisclosed borrower has secured $869 million in financing for a 11.4 million-square-foot industrial 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\/jll-arranges-869m-refi-for-industrial-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JLL Arranges $869M Refi for Industrial Portfolio\" \/>\n<meta property=\"og:description\" content=\"An undisclosed borrower has secured $869 million in financing for a 11.4 million-square-foot industrial portfolio.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/jll-arranges-869m-refi-for-industrial-portfolio\/\" \/>\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=\"2023-10-30T14:18:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-31T09:13:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/Triad-Industrial-Portfolio-e1697709803899.png?w=959\" \/>\n\t<meta property=\"og:image:width\" content=\"959\" \/>\n\t<meta property=\"og:image:height\" content=\"719\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Diana Firtea\" \/>\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\/jll-arranges-869m-refi-for-industrial-portfolio\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/jll-arranges-869m-refi-for-industrial-portfolio\/\",\"name\":\"JLL Arranges $869M Refi for Industrial Portfolio - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jll-arranges-869m-refi-for-industrial-portfolio\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jll-arranges-869m-refi-for-industrial-portfolio\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/Triad-Industrial-Portfolio-e1697709803899.png\",\"datePublished\":\"2023-10-30T14:18:29+00:00\",\"dateModified\":\"2023-10-31T09:13:01+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/a0c04b9de1387474e28c9ebdb0444e59\"},\"description\":\"An undisclosed borrower has secured $869 million in financing for a 11.4 million-square-foot industrial portfolio.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jll-arranges-869m-refi-for-industrial-portfolio\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/jll-arranges-869m-refi-for-industrial-portfolio\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jll-arranges-869m-refi-for-industrial-portfolio\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/Triad-Industrial-Portfolio-e1697709803899.png\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/Triad-Industrial-Portfolio-e1697709803899.png\",\"width\":959,\"height\":719,\"caption\":\"The Triad Industrial Portfolio spreads across nearly 126 acres. 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