Colliers recently facilitated a successful acquisition loan of $76.725 million for Four Springs TEN31 Xchange. This loan was used to purchase a 1.1-million-square-foot industrial building in Monroe, MI that is fully leased to Ford Motor Company on a long-term basis.
The financing was sourced by EVP Jeremy Thornton, SVPs Nicole Sayers and Andrew Gibson, and VP Lauren Smyle. FSXchange has an impressive track record of syndicating over $840 million in net-leased real estate through DST offerings.
The property is located at 14741 Laplaisance Rd., near the Interstate 75 corridor in Monroe, MI. It was originally developed as a build-to-suit warehouse and logistics facility for Ford Motor Company.
CEO Coby Johnson expressed excitement about this acquisition as it aligns with Four Springs’ goal of expanding their portfolio with diverse properties anchored by strong tenants with good credit ratings.
Thornton also shared his optimism about the current market conditions stating that this successful loan completion serves as evidence of positive activity expected throughout the year ahead.
