JV Arranges $109M Refi of Multi-State Facilities
ByCushman & Wakefield has come through for Industrial Properties America III LLC, a joint venture of investors advised by JP Morgan Asset Management and IDI Logistics. The commercial real estate services firm recently arranged $108.6 million in refinancing for the borrower’s 2.2 million-square-foot national industrial portfolio. The financing, secured by Cushman & Wakefield Senior Director Richard Henry, Executive Director Brian Linnihan and Executive Managing Director Mike Ryan, came in the form of a floating rate loan.
Featuring eight fully leased facilities, Industrial Properties’ collection of newly refinanced assets spans locations in Illinois, Ohio, Texas and California. The properties include 11310 Cantu Galleano Ranch Road in Mira Loma, Calif.; 1555 Hunter Road in Hanover Park, Ill.; 8700-8720 LeSaint Drive. in Westchester, Ohio; 4250 Patriot Drive in Grapevine, Texas; and 8425 Airways Blvd. in Southaven, Miss. Two of the assets, 11600 Miramar Parkway and 2501 S.W. 160th Ave., are located in Miramar, Fla. And rounding out the group is 2124 Skyview Drive in Lithia Springs, Ga., a 395,000-square-foot building occupied in its entirety by XPO Logistics…
