JLL Secures $820 Million Refinancing for Expansive Industrial Portfolio Across Six States

JLL Secures $820 Million Refinancing

In a significant financial move, JLL's Capital Markets group has successfully arranged an impressive $820 million refinancing deal aimed at bolstering a diverse portfolio of 42 industrial properties. These properties, which cover an area of 6.1 million square feet, are strategically located across six key states in the United States, highlighting JLL's expertise in capital solutions.

Portfolio Overview

The portfolio spans major industrial markets, including Atlanta, Dallas-Fort Worth, Charlotte, Tampa, and two regions in California: the East Bay and Inland Empire. As of September 2025, which is also the latest data shared, the portfolio boasts an impressive occupancy rate of 91%, housing over 950 tenants. This high demand underscores the crucial role the facilities play in meeting the logistics and distribution needs of various businesses, particularly in the e-commerce sector.

Each property within this portfolio offers a range of features tailored for industrial tenants. The average clear height of the warehouses is 19 feet, ensuring adequate space for storage and operations, while the office finishes account for approximately 33% of the total square footage. Properties vary significantly in size, with individual buildings ranging from 16,176 to a substantial 944,655 square feet, creating a midpoint average property size of 145,925 square feet.

Strategic Importance

“We see tremendous opportunity to serve the evolving needs of logistics, e-commerce and distribution tenants in this sector,” remarked Eric Smyth, CEO of CIP Real Estate. This commentary reflects the ongoing transformation in the retail landscape, which is favoring more responsive and accessible logistical solutions. The ability for these properties to provide direct access to major transportation hubs and populous areas not only meets existing demand but also positions them for future growth.

Financial Mechanics

The financing, characterized as floating-rate due to its single-asset single-borrower (SASB) structure, was primarily spearheaded by Wells Fargo, with J.P. Morgan and Goldman Sachs also playing pivotal roles in originating portions of the loan. Such a significant multi-faceted loan arrangement emphasizes the solid backing and strategic execution behind the joint venture between CIP Real Estate and Almanac Realty Investors.

Kevin MacKenzie, JLL’s Capital Markets President, echoed the sentiments of strength in leadership and operational excellence. “Strong sponsorship and strategic execution drove exceptional results on this significant financing,” he noted. The competitive loan terms secured through this refinance will provide CIP Real Estate and its partners with flexibility necessary for continued expansion and service enhancement.

JLL's Role and Industry Context

JLL's Capital Markets group stands out as a comprehensive provider of capital solutions globally, serving real estate investors and occupiers alike. Their robust understanding of local markets combined with worldwide investor insights positions them as a leader in the industry, allowing clients access to elite services involving investment sales, advisory, debt, equity solutions, or recapitalization.

As of now, JLL boasts over 3,000 specialists dedicated to Capital Markets, operating in nearly 50 countries. This recent refinancing arrangement not only solidifies JLL's stature in the commercial real estate arena but also paves the way for their clients to navigate the evolving landscape effectively.

In conclusion, this refinancing marks a definitive step towards future growth for both CIP Real Estate and Almanac Realty Investors, enhancing their capabilities within the shallow bay industrial sector and further transforming how logistics and distribution needs are met nationwide. JLL's integral role in this financing speaks volumes about its commitment and expertise within the commercial real estate sector.