{"id":1004793864,"date":"2026-04-01T03:42:55","date_gmt":"2026-04-01T11:42:55","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004793864"},"modified":"2026-04-02T01:21:38","modified_gmt":"2026-04-02T09:21:38","slug":"faropoint-closes-223m-refi-with-blackstone","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/faropoint-closes-223m-refi-with-blackstone\/","title":{"rendered":"Faropoint Closes $223M Refi With Blackstone"},"content":{"rendered":"
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\"Aerial<\/a>
An industrial building at 4935 Park Ridge Blvd. in Boynton Beach, Fla. The property is part of a 26-building industrial portfolio totaling 1.7 million square feet within Faropoint’s Industrial Value Fund III that was refinanced with a $223 million loan from Blackstone Real Estate Debt Strategies. Image courtesy of Faropoint<\/em><\/figcaption><\/figure><\/div>\n\n\n

Faropoint has refinanced a 26-building portfolio totaling 1.7 million square feet within its Industrial Value Fund III with a $223 million loan from Blackstone Real Estate Debt Strategies.<\/p>\n\n\n\n

The non-recourse, floating-rate loan carries a three-year initial term with two one-year extension options.<\/p>\n\n\n\n

It is Faropoint\u2019s third financing with BREDS and the second refinancing transaction in less than three months. In January, Faropoint refinanced a 61-asset portfolio<\/a> within its Fund II totaling nearly 3.5 million square feet, with $273 million in financing proceeds from a bank syndicate led by Capital One and J.P. Morgan.<\/p>\n\n\n\n

Late last year, Faropoint refinanced a 49-building, 3.7 million-square-foot portfolio in Fund III with a $340 million loan from Truist Bank and U.S. Bank.<\/p>\n\n\n\n

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READ ALSO<\/strong>: Industrial Big Box Hits a Reset in Greater Philadelphia<\/a><\/p>\n\n\n\n

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\u201cOur financing strategy is to aggregate properties using our capital call lines and acquisition credit facilities. Once we have accumulated a stabilized pool of assets, we go out to the market for a permanent refinance,\u201d Tzvi Feifel, director of product marketing at Faropoint, told Commercial Property Executive<\/em>. \u201cThis is a strategy that we have executed across our value-add Funds I and II, and we will aim to follow the same approach in our new Fund IV.\u201d<\/p>\n\n\n\n

Feifel said the firm expects to complete at least two more refinances of $300 million plus in loan commitments this year.<\/p>\n\n\n\n

Idan Tzur, Faropoint chief financial officer, said in prepared remarks moving the assets into permanent financing creates meaningful reinvestment capacity that allows the company to continue executing the fund\u2019s acquisition strategy.<\/p>\n\n\n\n

Assets refinanced in BREDS deal<\/h2>\n\n\n\n

Anchored by concentrations in several Florida markets and properties in metro Atlanta, the portfolio spans seven U.S. markets. It is leased to 75 tenants with more than 90 percent weighted average occupancy. The properties were acquired through a large portfolio transaction completed in June 2025. Faropoint purchased the shallow-bay industrial collection<\/a> from Mapletree Investments for $328 million. The deal was Faropoint\u2019s largest single acquisition to date and was also Mapletree\u2019s first large-scale U.S. warehouse divestment.<\/p>\n\n\n\n

The properties in the refinancing include:<\/p>\n\n\n\n