$820MM financing arranged for 6.1MM SF industrial portfolio spanning six states
$820MM financing arranged for 6.1MM SF industrial portfolio spanning six states |
| [20-October-2025] |
JLL's Capital Markets group secured refinancing for CIP Real Estate and Almanac Realty Investors' diversified portfolio of 42 shallow bay industrial properties PHOENIX, Oct. 20, 2025 /PRNewswire/ -- JLL's Capital Markets group announced today that it has arranged an $820 million refinancing for a national industrial portfolio comprising 42 shallow bay industrial properties totalling 6.1 million square feet across six states. JLL represented the borrower, a joint venture between affiliates of CIP Real Estate LLC and Almanac Realty Investors, to secure a floating-rate, single-asset single-borrower (SASB) refinancing led by Wells Fargo, with J.P. Morgan and Goldman Sachs also originating portions of the loan. The portfolio spans six major industrial markets including Atlanta, Dallas-Fort Worth, Charlotte, Tampa, and California's East Bay and Inland Empire. As of September 2025, the portfolio is 91% leased to more than 950 unique tenants. The properties feature average clear heights of 19 feet, an average office finish of approximately 33% and range in size from 16,176 to 944,655 square feet, with an average property size of 145,925 square feet. The portfolio's strategic locations provide tenants with proximity to major transportation infrastructure and population centers, supporting a broad range of logistics, e-commerce and distribution users, including last-mile operators and small to medium-sized businesses. "This refinancing represents a significant milestone for our partnership with Almanac and demonstrates the strength of our diversified industrial portfolio," said Eric Smyth, CEO of CIP Real Estate. "We appreciate JLL's expertise in securing competitive terms that provide us with enhanced flexibility to continue our growth strategy in the shallow bay industrial sector, where we see tremendous opportunity to serve the evolving needs of logistics, e-commerce and distribution tenants." The JLL Debt Advisory team was led by Capital Markets President Kevin MacKenzie, Senior Director Peter Thompson, Director Christopher Pratt, Associates Kyle White and Anthony Scaglione and Analyst Nick Englhard, with additional support from investment sales teams in local markets. "Strong sponsorship and strategic execution drove exceptional results on this significant financing," said MacKenzie. "The proven CIP-Almanac partnership including operational performance at the asset level, combined with JLL's expertise in large loan placements and deep lender relationships, enabled us to structure competitive terms across this geographically diverse shallow bay portfolio." JLL's Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The group's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The group has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries. For more news, videos and research resources, please visit JLL's newsroom. About JLL About CIP Real Estate About Almanac Realty Investors About Wells Fargo About Goldman Sachs Contact: Grace Lewis, JLL PR
SOURCE JLL | ||
Company Codes: NYSE:JLL,NYSE:WFC |
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