JLL Capital Markets, a global provider of capital solutions for real estate investors, has announced the successful arrangement of $61.34 million in financing for a four-property industrial portfolio. The portfolio, totaling 428,488 square feet, is located in Colorado, New York, Tennessee, and Washington.
The financing was secured on behalf of the borrower, EverWest Real Estate Investors, through institutional investors advised by J.P. Morgan Global Alternatives. The loan, which has a full term of 6 years, is interest-only and was obtained at a competitive interest rate.
The industrial portfolio is highly attractive, with an impressive occupancy rate of 98.3%. It comprises various multi-tenant and single-tenant warehouse, distribution, and manufacturing buildings. These properties offer clear heights ranging from 24 to 32 feet and are equipped with a total of 47 dock-high doors and 17 drive-in doors.
The locations of the properties in the four primary U.S. industrial markets are as follows: 1550 and 1210 E 73rd Ave. in Denver, Colorado; 6335 1st Ave. South in Seattle, Washington; 2947 Brick Church Pike in Nashville, Tennessee; and 55-30 46th St. in Maspeth, New York.
The financing was facilitated by the JLL Capital Markets Debt Advisory team, led by Senior Managing Director Eric Tupler, Managing Director Kristian Lichtenfels, Senior Managing Director Brian Dawson, Director Kaden Eichmeier, and Senior Director Jillian Mariutti.
Tom Karbowski, Managing Director at EverWest Real Estate Investors, expressed his gratitude to J.P. Morgan Asset Management and JLL for their support in securing the financing, especially in the challenging financing environment.
JLL Capital Markets operates globally, offering a wide range of capital solutions for real estate investors and occupiers. With a presence in nearly 50 countries and more than 3,000 specialists, the firm provides clients with investment sales and advisory, debt advisory, equity advisory, and recapitalization services.
EverWest Real Estate Investors, with assets under management of $5.3 billion, is a real estate investment advisor that focuses on investment management services across the United States. The firm offers acquisitions, asset management, development, and property management for its investors.
JLL (Jones Lang LaSalle Incorporated) is a leading commercial real estate and investment management company. With a history spanning over 200 years and operations in over 80 countries, JLL assists clients with various real estate needs. The company’s purpose is to shape the future of real estate for a better world.
J.P. Morgan Global Alternatives, the alternative investment arm of J.P. Morgan Asset Management, has over 60 years of experience in managing alternative investments. Their strategies cover a wide range of alternatives, including real estate, private equity, private credit, infrastructure, transport, hedge funds, and more.
Sources:
– JLL Capital Markets
– EverWest Real Estate Investors LLC
– J.P. Morgan Global Alternatives