JLL's Capital Markets group announced on September 30, 2024, that it arranged $577.625 million in CMBS single-borrower (SASB) financing for the LBA Logistics Value Fund VII Industrial Portfolio. This significant transaction involved a portfolio of 25 industrial properties spanning 7,040,030 square feet across 10 states.
The financing secured was a floating-rate loan with a five-year term, including extensions, provided by a syndicate led by J.P. Morgan, with Bank of America and Wells Fargo as joint bookrunners. The final pricing for the loan was approximately 195 basis points over SOFR.
The portfolio boasts a 100% occupancy rate and a diverse tenant mix, underscoring the quality of the assets and the strength of the sponsor. This deal demonstrates JLL's expertise in navigating complex capital markets and securing favorable terms for its clients in the industrial sector.
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