JLL Capital Markets introduced right this moment that it has organized a $60.eight million refinancing for a totally leased, seven-property mild industrial portfolio totaling 199,457 sq. toes in Brooklyn, Queens and The Bronx, New York.
JLL labored completely on behalf of the borrower, Seagis Property Group LP, to position the 10-year, fixed-rate, curiosity solely, non-recourse mortgage with Chase.
The portfolio contains industrial properties at 250 Johnson Ave., 124-134 Forrest St. and 132 54th St. in Brooklyn; 58-17 59th Dr. and 5700 49th Pl. in Maspeth, Queens; and 1108 Zerega Ave. and 2500 Waterbury Ave. in The Bronx. Totally leased to eight tenants, the Class B properties provide clear heights starting from 16 to 28 toes, 20 loading positions, some workplace end and ample parking.
The properties are in high-demand, infill areas throughout the New York Outer Boroughs Industrial market and in among the most densely populated areas of the nation. In accordance with JLL Research, emptiness declined within the fourth quarter of 2021 to a low 1.6 %, and asking charges elevated 15.5 % year-over-year to $30.28 per sq. foot.
The JLL Capital Markets Debt Placement group representing the borrower was led by Senior Managing Administrators Gregory Nalbandian and Jim Cadranell, Vice President Michael Lachs and Director Alex Staikos.
“As one of many premier house owners of commercial actual property within the Outer Boroughs Industrial market, Seagis acquired these extremely demanded property at a particularly engaging foundation and applied their value-add technique very successfully submit acquisition,” Nalbandian mentioned. “JLL was honored to help Seagis as soon as once more on one other very profitable financing enabling our consumer to reap the benefits of the very favorable capital markets atmosphere right this moment.”
JLL Capital Markets is a full-service world supplier of capital options for actual property buyers and occupiers. The agency’s in-depth native market and world investor data delivers the best-in-class options for purchasers — whether or not funding gross sales and advisory, debt advisory, fairness advisory or a recapitalization. The agency has greater than three,000 Capital Markets specialists worldwide with places of work in practically 50 nations.
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