On Tuesday, JLL Capital Markets announced the successful arrangement of $170 million in financing for the SkyREM Industrial Portfolio. The portfolio consists of 10 buildings primarily focused on industrial and warehouse distribution assets located throughout the Northeast, Southeast, and Midwest regions. Led by a team including managing director Peter Rotchford, senior director Lucas Borges, executive managing director Riaz Cassum, and senior managing director Steven Binswanger; JLL represented borrower SkyREM in securing a fixed-rate loan through Apollo for a term of five years.
The total square footage of the portfolio is approximately 2.5 million square feet spread across highly desirable markets such as South Carolina,North Carolina , New Jersey,Wisconsin , Georgia,Iowa ,and Pennsylvania . These areas have strong labor markets with low unemployment rates and positive population growth trends according to JLL.
At closing,the properties were fully leased at an impressive rate of 99% to15 diverse tenants representing various industries including technology manufacturing warehousing logistics aerospace,and government sectors.Many tenants have been occupying their spaces for extended periods ranging from one year up to over twenty years with an average tenure period being eight years.
One notable property within this portfolio is Fiskars USA facility located in Wall Township,NJ.
