JLL Capital Markets arranges $110 million in financing for Essex County industrial building in Newark, NJ

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.

Thomas E Didio, Jr. 

The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Managing Director Thomas R. Didio, Director Thomas E Didio, Jr. and Associate Ryan Carroll.

 “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.

Thomas R. Didio Sr.

The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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 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.

 Ryan Carroll

JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce more than 95,000 as of September 30, 2021.

 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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