JLL’s Capital Markets group arranged $252.5 million in financing for the Lower Terra Industrial Portfolio, a collection of 21 light industrial, mission-critical properties totaling 3.64 million square feet across 17 markets. Senior director Lucas Borges, senior managing director Matthew Schoenfeldt and associate Tara Hagerty represented Brennan Investment Group and Farallon Capital in securing the floating-rate, five-year loan from affiliates of Apollo.
Located across 13 states in the East, West, Central and Southeast regions, the properties are 98% occupied by 16 diverse tenants spanning a broad array of industries representing the largest sectors of the U.S. economy. JLL said the portfolio also benefits from its exposure to the manufacturing sector, affording sponsorship the opportunity to capitalize on pent-up leasing demand as leases roll.
“The combination of the portfolio’s geographic diversity, long-term tenant base and strategic positioning in markets with strong industrial fundamentals made this an attractive investment opportunity in today’s capital markets environment,” said Borges.
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