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Lauren Ervin
|
MIAMI, FL, Feb. 8,
2023 – JLL Capital Markets announced today that it has arranged in
permanent financing for a nine-property light industrial portfolio totaling 1.7
million square feet located in infill locations in South Florida, Texas, North
Carolina, Alabama and Maryland.
JLL worked
exclusively on behalf of the borrower, Adler Real Estate Partners, to place the
five-year, fixed-rate, non-recourse loan with TIAA Bank.
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| Melissa Rose |
“The
recapitalization of this portfolio was very important for our firm in order to
achieve a win for investors, and we were pleased to work with the JLL Capital
Markets team and TIAA Bank to close this complex transaction,” said Matthew
Adler, Founder and Managing Principal of Adler Real Estate
Partners.
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Matthew L. Adler
|
“We always work
with clients to create customizable credit solutions to suit their needs, and
we’re glad we could help JLL and Adler Real Estate Partners structure a
flexible prepayment schedule, structuring the transaction that was designed to
meet the specific needs for the Class A sponsorship,” said Lauren Ervin,
TIAA Bank’s Vice President.
Located within
high-growth markets in the Sunbelt and Mid-Atlantic, the portfolio is comprised
of 145 tenants across 17 different industry categories, including
technology/IT, medical supplies, healthcare, aeronautics, consumer goods and
construction/materials.
Constructed
between 1981 and 2001, the well-maintained assets maintain above-market
occupancies and consistently outperform the local competition. %20Drew.jpg) |
Chris Drew
|
The portfolio properties’ optimal infill locations,
which provide direct access to transportation and infrastructure, added to the
strong lender interest in the financing opportunity.
The JLL Capital
Markets Debt Placement team representing the borrower was led by Senior
Managing Director Chris Drew, Managing Director Melissa Rose and
Vice President Christopher Gathman.
“The ability to
secure accretive financing in this turbulent capital markets environment is a
testament to Adler Real Estate Partners brand name as well as the quality of
the assets included in the collateral,” said Drew.
“TIAA Bank
provided a seamless execution on a large loan at a time when $100 million and
up, single-source capital has become scarce,” added Rose.
 |
Christopher Gathman
|
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.
The firm has more than 3,000 Capital Markets
specialists worldwide with offices in nearly 50 countries.
For more news,
videos and research resources on JLL, please visit our newsroom.
Adler Real Estate
Partners
Adler Real Estate
Partners (“AREP”) is a leading, vertically integrated light industrial owner
based in Miami, FL.
Founded by Matthew Adler in 2012, the firm
carries in its DNA the successful 60-year track record of acquiring and
operating multi-tenant light-industrial assets of Matthew's legacy family
business, the Adler Group.
Since entering the fund management business, the
current team has deployed and managed four funds while making 37 acquisitions,
totaling 6.5M square and with a market value of over $1.2 billion.
CONTACT:
Cierra Lacasse,
JLL Associate,
Public
Relations
Phone: +1 602 648 8701
Email: Cierra.Lacasse@jll.com
jll.com.
%20Drew.jpg)
