 |
| Mark Sonnenberg |
JLL worked on behalf of the borrower, a
partnership between Phoenix-based Bird Dog Industrial, HPI Real Estate Services
and Investment and Long Wharf Capital, to place the five-year, fixed-rate,
non-recourse loan with a correspondent life insurance company. Loan proceeds
will be used to take out the existing credit facility.
The Phoenix light industrial portfolio is
situated on 16.12 acres at 10950 W. Northview Ave. in Glendale; 235 E. Pima St.
in Phoenix; and 481 N. Dean Ave, 5740 W. Oakland St. and 5753, 5763 and 5773 W.
Erie Streets in Chandler.
 |
| Casey Wenzel |
The portfolio is 54.6% leased to three national
tenants. The borrower is in the final stage of completing value-add
improvements totaling approximately $1.725 million across the portfolio.
“We purchased each of these properties
individually based on their common value-add attributes, including deferred
improvements, existing vacancy and below-market rents,” said Mark
Sonnenberg, President of Bird Dog Industrial. “After completing significant
improvements, we’re excited to be re-introducing these properties to the
leasing market.”
The JLL Capital Markets debt placement team representing the
borrower was led by Managing Director Casey Wenzel, Senior Managing
Directors Aldon Cole and Jeremy Womack and Analyst Alastair
Barnes.
JLL Capital Markets is a full-service global
provider of capital solutions for real estate investors and occupiers.
 |
| Aldon Cole |
The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization.
The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources on
JLL, please visit our newsroom.
About Bird Dog Industrial
Bird Dog industrial is
a Phoenix-based entrepreneurial real estate investment firm that acquires,
repositions and develops industrial properties with a focus on maximizing
investor returns through creative and value-add opportunities.
 |
| Jeremy Womack |
About HPI Real Estate
Services and Investment
HPI is a full-service commercial real
estate firm with over 28 years of experience developing, managing and investing
in commercial real estate.
This 360-degree perspective gives HPI the expertise to maximize investment value while navigating through any real estate challenge.
Backed by the best staff in the industry, HPI’s mission is to build trusting relationships with its clients through proven results, professional integrity and exceptional service.
This 360-degree perspective gives HPI the expertise to maximize investment value while navigating through any real estate challenge.
Backed by the best staff in the industry, HPI’s mission is to build trusting relationships with its clients through proven results, professional integrity and exceptional service.
About Long Wharf Capital
Long Wharf Capital LLC is a Boston-based private
equity real estate manager focused exclusively on value-added investments in
the U.S.
Formed in 2011, the firm invests on behalf of institutional clients
including pension funds, endowments, foundations, and family offices.
Long Wharf’s investment approach utilizes multiple value creation strategies to target opportunities across property sectors and U.S. markets.
Since Long Wharf’s first fund in 2012, the team has invested over $768 million of equity in more than 50 investments across the U.S. with a gross value of $2.6 billion.
 |
| Alastair Barnes |
Long Wharf’s investment approach utilizes multiple value creation strategies to target opportunities across property sectors and U.S. markets.
Since Long Wharf’s first fund in 2012, the team has invested over $768 million of equity in more than 50 investments across the U.S. with a gross value of $2.6 billion.
CONTACT:
Kimberly Steele
Senior Associate, Public Relations
JLL Capital Markets
9 Greenway Plaza, Suite 700
Houston, TX 77046
T +1 713 852 3420
M +1 832 244 9994
longwharf.com.
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