JLL Capital Markets announced today it has arranged $35.6 million in acquisition financing for the Chicago Infill Industrial Seed Portfolio, a collection of four shallow bay assets totaling 411,781 square feet strategically positioned in the O’Hare, Northwest Cook and North DuPage submarkets.
JLL worked on behalf of the borrower, a newly formed joint venture between Matterhorn Venture Partners (“MVP”) and TPG Angelo Gordon U.S. Real Estate, to secure the acquisition financing.
The partnership represents the initial investment for the joint venture targeting value-add Midwest industrial acquisitions. The joint venture has an initial equity commitment of $300 million to deploy across industrial acquisitions in Chicago and surrounding target markets, with total buying power of over $900 million.
Located within Chicago’s premier industrial corridors, the properties benefit from exceptional access to O’Hare International Airport, extensive freight rail networks and direct connections to major interstate highways including I-90, I-355 and I-88. The functional mid-80s vintage portfolio features clear heights ranging from 18 to 24 feet, 30 combined dock doors and four drive-in doors across the four properties. Additionally, the portfolio benefits from extremely limited competition, with only 0.5% of industrial inventory vacant within a two-mile radius and no new construction in the pipeline.
The JLL Capital Markets team was led by Senior Managing Director Danny Kaufman, Managing Director Lucas Borges and Director Mary Dooley, with support from Senior Analyst Emma Berner and Analyst Annie Thomas.
