SkyREM refinances 2.5-million SF industrial portfolio with $170 million loan; JLL Capital Markets arranges financing

 

SkyREM industrial portfolio in Northeast, Southeast and Midwest regions of the United States.

Peter Rotchford

NEW YORK CITY, NY – JLL Capital Markets has arranged $170 million in financing for the SkyREM Industrial Portfolio, a 10-building collection of primarily industrial and warehouse distribution assets located across the Northeast, Southeast and Midwest regions of the United States.

 JLL represented the borrower, SkyREM, to secure the fixed-rate, five-year loan from affiliates of Apoll

Totaling approximately 2.5 million square feet, the portfolio is spread across highly sought-after markets located throughout seven states. The properties benefit from strong labor markets, low unemployment rates and positive population growth trends.

 

Steven Binswanger

At closing, the properties were 99% leased to 15 diverse tenants across a variety of industries, including technology, manufacturing, warehousing, logistics, aerospace and government.

 

Many tenants have long histories at the properties, ranging from one to 20+ years, with an average tenure of approximately eight years.

 

The JLL Debt Advisory team included Senior Managing Directors Peter Rotchford and Steven Binswanger, Executive Managing Director Riaz Cassum and Senior Director Lucas Borges.

Despite a national pullback in industrial leasing since the pandemic highs, the Logistics & Parcel Delivery industry was a top performer in the sector this year, driven in large part by increased Asian 3PL demand.

Riaz Cassum 

In New Jersey, leasing volume in Q3 2024 came in at the second greatest level of all time, tallying 14 million square feet.

 

About SkyREM, LLC

SkyREM, with offices in Philadelphia and in New York City, is a privately funded and managed real estate company which owns and operates a large, diversified portfolio of properties in the United States. 

As a principal for its own account, Sky is actively acquiring throughout the United States. To learn more about SkyREM please contact Marc Civitillo or James Pancetti at 212-888-6920, or visit www.skyrem.com.

 

For more news, videos and research resources, visit JLL’s newsroom. (JLL.com)

 

 Lucas Borges

CONTACT:

Grace Lewis

PR, Capital Markets

2401 Cedar Springs Rd.

Dallas, Texas 75201

M +1 903 520 3478