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| Melissa Rose |
ORLANDO, FL, Dec. 28, 2021 – JLL Capital Markets has arranged a $120 million refinancing on behalf of McCraney Property Company and partner Tavistock Development Company for the award-winning Infinity Park, a newly constructed, nine-building, Class A logistics park totaling 1.3 million square feet in Orlando, Florida.
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| Infinity Park, 2500 Consulate Drive, Orlando, FL |
JLL worked on behalf of the borrower, McCraney Property Company and Tavistock Development Company, to place the 10-year, fixed-rate loan with Lincoln Financial Group.
“The development team set the tone for success in
this project,” said McCraney Property Company CEO and President Steven E.
McCraney.
Steven E. McCraney
“It was the right
location in the right market that produced this phenomenal list of tenants that
joined us at the park.”
Constructed in phases between 2019 and 2021,
NAIOP named Infinity Park the Central Florida Industrial Development of the
Year in 2019 for its meticulous design and highly functional layouts.
The 92 percent-leased industrial park is home to
17 tenants and features a premium credit profile with major tenants such as
Pepsi (Moody’s: A1).
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| Maxx Carney |
Due to its unparalleled multi-expressway access
where the Beachline Expressway (SR-528) intersects with the Florida Turnpike
and John Young Parkway, tenants can reach more than 20 million residents – or
95 percent of the population of Florida – within a four-hour drive and nearly
3.7 million customers within a one-hour drive.
As one of the fastest-growing metro areas in the
country, Orlando’s population is booming and is anticipated to continue to
outpace state and national averages over the next five years.
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| Reid Carleton |
The JLL Capital Markets Debt Placement team
representing the borrower was led by Managing Director Melissa Rose,
Director Maxx Carney, Associate Reid Carleton and Analyst Maddy
McMillen.
“It was a privilege to work on behalf of McCraney
Property Company and Tavistock to secure optimal financing terms for one of
Florida’s most noteworthy industrial assets,” Rose said.
“The sponsorship, location and tenant mix of the
asset are second to none, resulting in a highly competitive process with a wide
array of capital sources that were eager to provide financing.”
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| Maddy McMillen |
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