DALLAS, Oct. 18, 2023 - JLL Capital Markets announced today that it has arranged acquisition financing for a 28-asset light industrial portfolio totaling 1.4 million square feet in Kernersville and Winston-Salem, North Carolina.
JLL worked on behalf of Dallas-based Blue Ridge Industrial to secure the five-year, floating rate loan through an entity managed by Argentic Investment Management LLC ("Argentic").
The portfolio is currently 96.4% leased to a diverse rent roll of 66 tenants. Key features include average clear heights of 23 feet with 306 total dock-high doors and a combination of front-, rear-, side- and cross-dock load configurations. The average building size across the portfolio is approximately 50,000 square feet.
Kernersville and Winston-Salem sit within the rapidly growing Triad region of North Carolina. The portfolio benefits from having immediate access to two super-regional interstates, I-40 and I-85, close proximity to a skilled labor force and new manufacturing plants and corporate relocations. Kernersville is located 10 miles east of Winston-Salem and 17 miles west of Greensboro. Winston-Salem is located 25 miles west of Greensboro and 69 miles northeast of Charlotte.
The JLL Capital Markets Debt Advisory team was led by Senior Managing Director Jim Curtin and Director Jarrod McCabe.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm'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 firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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Jones Lang LaSalle Inc. published this content on 18 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 October 2023 15:30:43 UTC.
