JLL Capital Markets has successfully secured $27.3 million in financing for a two-building industrial portfolio located in Central Massachusetts and Greater Hartford, CT. The portfolio spans over 315,000 square feet and was represented by NorthBridge Partners. The JLL Capital Markets Debt Advisory team, led by managing director Andrew Gray and director Ryan Parker, arranged non-recourse acquisition financing through a national life insurance company.
The two properties within the portfolio are recently developed and serve as mission-critical facilities for a global ecommerce conglomerate and an advanced manufacturing company that primarily caters to the pharmaceutical and biotechnology industries. These Class A properties have long-term leases in place with premier logistical connectivity that meets distribution needs for supply chain operations.
According to Gray from JLL, there was significant interest from various lenders including national life insurance companies, regional banks,and alternative capital providers due to the state-of-the-art nature of these industrial properties which are crucial to their tenants’ operations.
This successful deal follows another recent achievement by JLL where they arranged a $27.8-million acquisition loan for NorthBridge earlier this month.
