JLL Capital Markets has arranged $61 million in acquisition financing for an industrial portfolio comprising nearly two-dozen last-mile, cross-dock truck terminals and transload properties across 17 key markets in the Southeast, Mid-Atlantic, New England and Central U.S.
JLL worked on behalf of the borrower, Biynah Industrial Partners, to source the acquisition loan.
The portfolio is 93% leased to 18 tenants with an average tenure of nearly 17 years and substantial investment-grade in-place tenancy. The portfolio crosses various regions with assets in the Southeast, Mid-Atlantic, New England and Central U.S.
The portfolio provides end-to-end logistics solutions for today’s supply chain demands. These facilities represent mission-critical freight distribution transfer points, facilitating the flow of goods at the last stage of the supply chain. Each site offers optimal solutions for facility location, facility size, proximity to major infrastructure, truck court sizing, auto parking and other special use considerations.
This portfolio highlights the growing demand for Industrial Service Facilities (“ISF”), a rapidly growing multi-billion asset class that is suddenly on the radar of institutional investors. Such last-mile, cross-dock truck terminals and transload properties are increasingly driving investor attention due to their critical role in the movement of goods amidst supply chain backlogs.
The JLL Capital Markets team that represented the borrower was led by Managing Director Matthew Schoenfeldt and Director Lucas Borges.
