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| Melissa Rose |
MIAMI, FL, Dec. 15, 2020 – JLL Capital Markets announced today that it has arranged the $5.4 million refinancing for a fully leased, five-asset industrial portfolio with a small component of office and retail totaling 78,064 square feet in the South Florida community of Hialeah, Florida.
JLL worked on behalf of AJF Properties to place the 10-year, fixed-rate loan with Valley Bank. Loan proceeds will be used to retire the portfolio’s existing senior loan.
The borrower acquired the portfolio in separate transactions
between 2011 and 2015. At 100 percent leased, the properties are home to a
diverse mix of tenants in industries including recycling, automotive repair,
insurance, equipment rental, flooring and bakery sectors.
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| Zachary Bayer |
The portfolio includes four industrial
properties located at 3572 E. 10th Ct., 1048 E. 26th St., 3500 NW 59th St. and
2498 W. 3 Ct.; one office and retail property at 491 Hialeah Dr.; and one
retail asset at 3345 NW 79th St.
All
the assets are in Hialeah, one of the best-performing infill industrial
submarkets in South Florida.
The JLL Capital Markets Debt Placement team
representing the borrower was led by Managing Director Melissa Rose and
Analyst Zachary Bayer.
“Due to the strong tenant demand for small bay
industrial in the Hialeah and the best-in-class sponsorship, we had a great
execution on the recapitalization of this asset,” Rose said.
“Our sponsors have added tremendous value with
tenant retention and leasing efforts throughout the pandemic, and the lender
provided a seamless close.”
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
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