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| Estimated 850,000 square-foot warehouse and distribution facility leased to a credit tenant in Newark, NJ |
MORRISTOWN, NJ, Jan. 7, 2022 – JLL Capital Markets has arranged $110 million in permanent financing for an estimated 850,000 square-foot warehouse and distribution facility leased to a credit tenant in Newark, New Jersey.
JLL worked on behalf of the borrower
to place the 15-year, fixed-rate, non-recourse loan with a correspondent life
insurance company.
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| Thomas E Didio, Jr. |
“Debt capital sources have never been
hungrier for institutional-quality, infill warehousing and distribution
facilities,” Didio, Jr. said.
“JLL
is pleased to have worked alongside the borrower to deliver aggressively priced
15-year debt through our correspondent life company network.”
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.
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| Thomas R. Didio Sr. |
For more news, videos and research
resources on JLL, please visit our newsroom.
About JLL
JLL (NYSE: JLL) is a leading professional
services firm that specializes in real estate and investment management.
JLL shapes the future of real estate for a
better world by using the most advanced technology to create rewarding
opportunities, amazing spaces and sustainable real estate solutions for our
clients, our people and our communities.
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| Ryan Carroll |
JLL is the brand name, and a registered
trademark, of Jones Lang LaSalle Incorporated.
CONTACT:
Kimberly
Steele
JLL Manager
Public Relations
Phone: +1 713 852 3420
Email: Kimberly.Steele@am.jll.com
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