JLL Capital Markets has successfully secured $61,340,000 in financing for a four-property industrial portfolio. The portfolio spans a total of 428,488 square feet and is located in Colorado, New York, Tennessee, and Washington.
The financing was arranged by JLL on behalf of the borrower, EverWest Real Estate Investors, and the loan was secured from institutional investors advised by J.P. Morgan Global Alternatives. The 6-year, full-term interest-only loan was secured at a competitive interest rate.
The portfolio comprises multi- and single-tenant warehouse, distribution, and manufacturing buildings. It is currently 98.3% leased, indicating strong demand in the market. 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 locations of the properties are Denver, Colorado; Seattle, Washington; Nashville, Tennessee; and Maspeth, New York.
The JLL Capital Markets Debt Advisory team, led by Senior Managing Director Eric Tupler and Managing Director Kristian Lichtenfels, worked alongside Senior Managing Director Brian Dawson, Director Kaden Eichmeier, and Senior Director Jillian Mariutti to secure the financing. Tom Karbowski, Managing Director of EverWest, expressed his gratitude to the teams at J.P. Morgan Asset Management and JLL for their assistance in completing the financing in a challenging environment.
JLL Capital Markets is a global provider of capital solutions for real estate investors and occupiers. With offices in nearly 50 countries and over 3,000 specialists worldwide, the company offers services including investment sales and advisory, debt advisory, equity advisory, and recapitalization.
EverWest Real Estate Investors is a real estate investment advisor that provides investment management services throughout the United States. The firm manages assets totaling $5.3 billion and offers services including acquisitions, asset management, development, and property management. EverWest is headquartered in Denver and has regional offices in New York City, Charlotte, Los Angeles, San Francisco, and Austin. It is an affiliate of Sagard, a global alternative asset management platform within the Power Corporation of Canada ecosystem.
J.P. Morgan Global Alternatives, the alternative investment arm of J.P. Morgan Asset Management, played a crucial role in advising the institutional investors who provided the financing. With over 60 years of experience in managing alternative investments and more than $213 billion in assets under management, J.P. Morgan Global Alternatives covers a range of alternative strategies, including real estate, private equity, private credit, liquid alternative products, infrastructure, transport, hedge funds, and forestry.
JLL, a leading global commercial real estate and investment management company, has been in operation for over 200 years. The company provides a wide range of services, including the acquisition, development, and management of commercial, industrial, hotel, residential, and retail properties. With a presence in over 80 countries and more than 103,000 employees, JLL combines global reach with local expertise to shape the future of real estate.
In conclusion, the successful financing of the four-property industrial portfolio demonstrates the strong demand in the industrial real estate market. With support from J.P. Morgan Global Alternatives and the expertise of JLL Capital Markets, EverWest Real Estate Investors has secured the necessary funding to continue the growth and success of its portfolio.