Significant $577 Million Financing for LBA Logistics Fund
JLL Secures $577.625 Million for LBA Logistics Value Fund VII
JLL's Capital Markets team has successfully facilitated an impressive financing package of $577.625 million for the LBA Logistics Value Fund VII Industrial Portfolio. This multi-state portfolio consists of 25 industrial properties totaling over 7 million square feet. The December financing underscores JLL's expertise in real estate financing and strategic market insights.
Strategic Financing Benefits
The financing is characterized as a floating-rate loan with a term extending over five years, made possible through a syndicate primarily led by J.P. Morgan, alongside key partners Bank of America and Wells Fargo. The loan came with final pricing at approximately 195 basis points over SOFR—a competitive rate indicating strong confidence among lenders.
Portfolio Overview and Tenant Diversity
The properties within this portfolio are strategically dispersed across several states, strategically positioned to leverage demand in key industrial markets. The portfolio sees a robust tenant presence in diverse sectors, ranging from web services to food and beverage, underscoring its operational stability with an impressive occupancy rate of 100%.
High-Occupancy Rates and Strategic Location
The portfolio’s occupancy reflects a dynamic tenant mix that thrives across various industries, ensuring steady cash flows. Locations include well-established industrial markets, making it an attractive investment opportunity due to their strong economic fundamentals.
Market Position and Conclusion
JLL's Capital Markets department, led by Executive Managing Director Kevin MacKenzie, along with Senior Managing Director Brian Torp and Vice President Christopher Pratt, exhibited exceptional dedication in securing this financing. MacKenzie noted that this is the lowest pricing for floating-rate industrial SASB financing recorded since earlier this year, highlighting the demand and strength of the underlying portfolio.
This financing not only reinforces LBA Logistics’ strong market position but also indicates a confidence surge in the industrial sector, marking an exciting chapter for investors and stakeholders involved.
About JLL
JLL has been a vital player in the commercial real estate and investment management industry for over two centuries. As a Fortune 500 company, JLL operates globally, helping clients navigate their commercial and industrial investments with profound expertise.
Contact Information
For further inquiries, individuals can reach out to Grace Lewis at JLL PR—Phone: +1 903 520 3478, or via email at grace.lewis@jll.com.
Frequently Asked Questions
What is the total amount secured for the financing?
The total financing amount secured is $577.625 million.
Who led the financing efforts?
The financing efforts were led by JLL's Capital Markets group.
What types of properties are included in the portfolio?
The portfolio includes 25 industrial properties.
What is the occupancy rate of the portfolio?
The portfolio boasts an impressive 100% occupancy rate.
Which financial institutions participated in this financing?
The financing syndicate includes J.P. Morgan, Bank of America, and Wells Fargo as joint bookrunners.
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