MORRISTOWN, N.J., Oct. 26, 2023 - JLL Capital Markets announced today that it arranged joint venture equity on behalf of Denholtz Properties for the recap of a portfolio of 16 light-industrial buildings (the "Portfolio") in New Jersey and Pennsylvania.
The JLL Capital Markets Investment Advisory team was led by Managing Directors Marc Duval and Jordan Avanzato, Directors Nicholas Stefans and Jason Lundy and Senior Managing Director Jose Cruz.
The portfolio spans 630,822 square feet and is 99% leased to a diversified group of tenants, spanning industries such as logistics, food and beverage, technology and warehousing. The properties offer prominent access along major thoroughfares with barriers to entry for new development in prime markets of Central and Northern New Jersey along with Lehigh Valley, PA.
"This opportunity was well received by the capital markets community which speaks to investors continued interest in deploying capital into hyper-focused operators," commented Duval. "Denholtz Properties will attract all tenants with their white-glove service and management capabilities."
"The portfolio represented a highly compelling opportunity to acquire a dynamic, well-occupied, and cash-flowing light industrial portfolio at an attractive basis," added Avanzato.
Mark Mahasky, Director, Capital Transactions for Denholtz Properties stated, "Our multi-tenant industrial investment strategy has ensured high occupancy across our portfolio amidst continued economic uncertainty. We thank JLL for their work on this recap to allow us to continue to invest in these properties and create an unmatched experience for our tenants."
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 26 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 October 2023 20:42:26 UTC.
