JLL Capital Markets recently arranged $61,340,000 in financing for a four-property industrial portfolio totalling 428,488 square feet in Colorado, New York, Tennessee and Washington, on behalf of EverWest Real Estate Investors.
JLL worked to secure the loan from institutional investors advised by J.P. Morgan Global Alternatives. The six-year, full term interest only loan was secured at a competitive interest rate.
The four-property portfolio is 98.3% leased and comprises a variety of multi- and single-tenant warehouse, distribution and manufacturing buildings. The properties feature clear heights ranging from 24 to 32 feet, with a total of 47 dock-high doors and 17 drive-in doors. The properties are in great infill locations in four primary U.S. industrial markets at the following addresses:
- 1550 and 1210 E 73rd Ave. in Denver
- 6335 1st Ave. South in Seattle, Washington
- 2947 Brick Church Pike in Nashville, Tennessee
- 55-30 46th St. in Maspeth, New York
The Denver property, also known as Central Connection, is a master-planned, infill, Class-A industrial distribution developed by Comunale Properties and designed by Powers Brown Architecture. The site is strategically situated on a parcel of land at the northeast corner of I-25 and I-270 and benefits from highway signage and immediate access to all of Denver’s primary highways and interstates. Central Connection is comprised of two buildings totaling 194,711 sf of space – 153,265 sf in Building 1, and 41,446 sf in Building 2.
The JLL Capital Markets Debt Advisory team was led by Senior Managing Director Eric Tupler and Managing Director Kristian Lichtenfels along with Senior Managing Director Brian Dawson, Director Kaden Eichmeier and Senior Director Jillian Mariutti.
“Big thanks to the teams at J.P. Morgan Asset Management and JLL for all of their help in getting this financing completed in a challenging financing environment.” Tom Karbowski, managing director, EverWest.