**Apollo Provides $252M Loan on 3.6M-SF Light Industrial Portfolio**
JLL’s Capital Markets group has successfully arranged $252.5 million in financing for the Lower Terra Industrial Portfolio, a vast collection of 21 mission-critical light industrial properties. Totaling 3.64 million square feet, the portfolio spans 17 markets across 13 states in the East, West, Central, and Southeast regions of the United States.
The five-year, floating-rate loan was provided by affiliates of Apollo. JLL’s team included senior director Lucas Borges, senior managing director Matthew Schoenfeldt, and associate Tara Hagerty, who represented Brennan Investment Group and Farallon Capital in the transaction.
Currently 98% occupied, the portfolio houses 16 tenants representing a diverse array of industries and some of the largest sectors of the U.S. economy. JLL highlighted the portfolio’s strong alignment with the robust manufacturing sector, which offers upside potential as leases roll and demand for industrial space continues to grow.
“The combination of the portfolio’s geographic diversity, long-term tenant base, and strategic positioning in markets with strong industrial fundamentals made this an attractive investment opportunity in today’s capital markets environment,” said Borges.
