REAL ESTATE INVESTMENT
JLL | December 02, 2021
JLL announced today that its Capital Markets group has arranged a $690 million financing for a portfolio of 44 net-leased industrial, office and data center properties totaling 6.85 million square feet in high-growth markets across the United States.
JLL worked on behalf of the borrower, Blackstone Real Estate Income Trust (BREIT), to place the two-year, floating-rate, non-recourse loan with Wells Fargo Bank. The financing comprises a term loan and a revolving credit facility. Additionally, the New York Agency of Singapore-based United Overseas Bank (UOB) joined the financing, committing half of the arranged capital post-closing.
The portfolio consists of single- and multi-tenant mission-critical assets with diverse functions that include warehouse, bulk warehouse, light industrial, office, laboratory, truck terminal, data center and raw land. With an average age of 17 years, the properties feature an average clear height of 28 feet, 87 suites and 1,148 dock doors. It is more than 80% leased to industry-leading tenants with a proven history of significant tenant investment and that represent a diverse range of industries, including e-commerce, web services, pharmaceuticals and logistics.
Situated on a total of nearly 611 acres, the portfolio properties are in 10 states in high-growth, highly connected markets such as Raleigh-Durham and Greensboro, North Carolina; Boston, Massachusetts; El Paso, Texas; Atlanta, Georgia; Chicago, Illinois; Salt Lake City, Utah; and Minneapolis, Minnesota.
JLL's Capital Markets debt advisory team representing the borrower was led by Executive Managing Director Trey Morsbach, Managing Director Michael Cosby and Analysts Bo Beidleman and Ryan Pollack.
JLL's Capital Markets group 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.
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. JLL is a Fortune 500 company with annual revenue of $16.6 billion, operations in over 80 countries and a global workforce of more than 95,000 as of September 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.
Advanced Flower Capital | August 18, 2020
AFC Gamma Inc., a commercial-mortgage real-estate investment trust ("REIT"), announced today that it has completed a first close of its $200 million investment vehicle, having raised approximately $80 million of equity from over 20 large family offices. Additionally, AFC Gamma has a credit line of up to $40 million, providing the REIT with approximately $120 million of capacity to lend to cannabis operators. With companies in the industry continuing to face challenges accessing capital, AFC Gamma was founded to fill a void in the market by providing funding that these companies need to expand and operate their businesses. The company has already provided debt financing for five companies, including dispensaries, cultivators, processors, and combined operations. To date, AFC Gamma has funded about $50 million in six transactions across five borrowers and has committed approximately an additional $30 million, to its existing borrowers and to two new loan originations closing shortly.
REAL ESTATE TECHNOLOGY
Realogics Sotheby's International Realty | April 29, 2021
Today, Realogics Sotheby's International Realty (RSIR) brokers Michele Schuler and Neda Perrina took to Instagram Live to reveal another essential organization that hoists their customer care across Seattle, the Eastside, Bainbridge Island, and past. At 12:30 pm PST, devotees tuned in for insider understanding on the development of their business, perceptions on the present quick market, and to meet their recently selected colleagues.
As establishing individuals from the RSIR lead office in midtown Bellevue and top-creating brokers in the firm, Schuler, and Perrina accomplished more than $87M in aggregate deals in 2020.
"After our individual victories a year ago, Neda and I were both seeing how to additionally elevate our administrations, and it just clicked," says Schuler. "We are currently situated to take advantage of both of our circles and give twofold the openness and advantage for our customers."
Drawing upon 18 years of joined land insight, Schuler and Perrina have set up center skills in private home deals, new development and manufacturer administrations, and movement talking with an accentuation on the area's flourishing tech area. To add a layer of help, Schuler and Perrina delegated Samantha Schwartz as a committed purchaser's agent and Lexie Rogers as a customer administrations chief to help to sell customers in situating their homes available to be purchased.
"In recognizing our objectives, we decided an unmistakable requirement for extra essential help, which is the place where Samantha and Lexie come in," Perrina adds. "We perceive that we are more grounded together and our customers are as of now beginning to feel it—we've effectively joined forces on a few exchanges in 2021 and anticipate some more."
Giving passageways to a more extensive scope of demographics was a critical foundation in setting up the group dynamic. Schuler and Perrina each repeated this slant during the declaration occasion, addressing the additional help for purchasers and dealers, and top-level assistance that traverses each value point, from starter homes to climb purchasers, second home objections, and downsizers.
"We anticipate having discussions with current and planned customers about our common obligation to remarkable help and welcome the chance to examine everything land," Schuler and Perrina note.
About Realogics Sotheby's International Realty
Realogics Sotheby's International Realty (RSIR) is a main worldwide deals and marketing business firm in the Pacific Northwest. The shop land firm of 300+ dynamic brokers administration branches in midtown Seattle, Bainbridge Island, Kirkland, Madison Park, and downtown Bellevue.