{"id":1004722058,"date":"2024-07-19T01:13:59","date_gmt":"2024-07-19T09:13:59","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004722058"},"modified":"2024-07-19T06:29:30","modified_gmt":"2024-07-19T14:29:30","slug":"6-4-msf-kansas-city-industrial-portfolio-lands-244m-refi","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/6-4-msf-kansas-city-industrial-portfolio-lands-244m-refi\/","title":{"rendered":"6.4 MSF Kansas City Industrial Portfolio Lands $244M Refi"},"content":{"rendered":"\n

A joint venture between an Ares Management Real Estate fund and NorthPoint Development has refinanced a 10-property warehouse and distribution portfolio totaling 6.4 million square feet in Logistics Park Kansas City in Edgerton, Kan. Barings provided the $244 million loan.<\/p>\n\n\n

\n
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The 10-asset portfolio is owned by Ares Management Real Estate and NorthPoint Development and is part of Logistics Park Kansas City in Edgerton, Kan. Image courtesy of NorthPoint Development<\/em><\/figcaption><\/figure><\/div>\n\n\n

Developed between 2014 and 2017, the buildings are located within the 1,700-acre master-planned industrial park<\/a> and inland port developed jointly by NorthPoint Development and BNSF Railway. The properties offer immediate access to BNSF Railway\u2019s state-of-the-art intermodal rail facility. Located along the railway\u2019s Transcontinental Corridor, LPKC opened in 2013. It has a total building capacity of 17 million square feet.<\/p>\n\n\n\n

In 2017, NorthPoint sold a majority stake in the portfolio to Ares Management Real Estate, a global alternative investment manager with nearly $50 billion in assets under management as of March. NorthPoint retained a minority stake as part of the joint venture and also continued to operate and maintain the buildings.<\/p>\n\n\n\n

The portfolio is currently 93 percent leased to a variety of premier tenants including Amazon, Stanley Black & Decker, Sam\u2019s Club, Assa Abloy and Smart Warehousing. The buildings feature concrete tilt-panel construction with an average 35-foot clear height and 706 dock doors. <\/p>\n\n\n\n

Amazon agreed to lease an 822,104-square-foot building at LPKC in March 2016 for a fulfillment center expected to create about 1,000 jobs. At the time, it was the largest speculative industrial building ever constructed in the Kansas City, Mo., market<\/a>.<\/p>\n\n\n\n

Barings Transactions<\/h2>\n\n\n\n

Steve Murray, a Barings managing director, said in a prepared statement the refinancing transaction is closely aligned with the asset management firm\u2019s real estate debt strategy that is focused on investing in high-quality assets in dynamic markets and backed by experienced sponsors. The company\u2019s real estate debt platform is now more than $28.4 billion.<\/p>\n\n\n\n

Also this month, Barings provided a $102 million five-year construction loan<\/a> alongside $63.3 million in green financing from Counterpointe Sustainable Real Estate to help redevelop downtown Darien, Conn.\u2019s Corbin District. Phase II will feature 11 new buildings including a mix of apartments along with office and retail space.<\/p>\n\n\n\n

Last year, Barings purchased Warner Commerce Center, a newly built speculative 197,000-square-foot industrial property in Tempe, Ariz.,<\/a> from The Opus Group for $42.4 million.<\/p>\n","protected":false},"excerpt":{"rendered":"

Barings provided the loan for the 10-property warehouse and distribution collection.<\/p>\n","protected":false},"author":1068,"featured_media":1004722070,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21748,1592,13,21742],"tags":[44687,34275,38189],"class_list":["post-1004722058","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-industrial","category-kansas-city","category-midwest","category-latest","tag-ares-management-corp","tag-barings","tag-northpoint-development"],"acf":[],"yoast_head":"\n6.4 MSF Kansas City Industrial Portfolio Lands $244M Refi - 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\/6-4-msf-kansas-city-industrial-portfolio-lands-244m-refi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"6.4 MSF Kansas City Industrial Portfolio Lands $244M Refi\" \/>\n<meta property=\"og:description\" content=\"Barings provided the loan for the 10-property warehouse and distribution collection.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/6-4-msf-kansas-city-industrial-portfolio-lands-244m-refi\/\" \/>\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=\"2024-07-19T09:13:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-19T14:29:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Ares-NorthPoint-LPKC-portfoloi-Kan.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1365\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gail Kalinoski\" \/>\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\/6-4-msf-kansas-city-industrial-portfolio-lands-244m-refi\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/6-4-msf-kansas-city-industrial-portfolio-lands-244m-refi\/\",\"name\":\"6.4 MSF Kansas City Industrial Portfolio Lands $244M Refi - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/6-4-msf-kansas-city-industrial-portfolio-lands-244m-refi\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/6-4-msf-kansas-city-industrial-portfolio-lands-244m-refi\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Ares-NorthPoint-LPKC-portfoloi-Kan.jpg\",\"datePublished\":\"2024-07-19T09:13:59+00:00\",\"dateModified\":\"2024-07-19T14:29:30+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/6-4-msf-kansas-city-industrial-portfolio-lands-244m-refi\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/6-4-msf-kansas-city-industrial-portfolio-lands-244m-refi\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/6-4-msf-kansas-city-industrial-portfolio-lands-244m-refi\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Ares-NorthPoint-LPKC-portfoloi-Kan.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Ares-NorthPoint-LPKC-portfoloi-Kan.jpg\",\"width\":1365,\"height\":1024,\"caption\":\"The 10-asset portfolio is owned by Ares Management Real Estate and NorthPoint Development and is part of Logistics Park Kansas City in Edgerton, Kan. 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