CIP Real Estate Secures $820M Refinance for Shallow-Bay Industrial Portfolio
CIP Real Estate has completed an $820 million refinancing deal for a national portfolio that includes 42 shallow-bay industrial properties, totaling approximately 6.13 million square feet. The refinancing was arranged in partnership with Almanac Realty Investors, with JLL representing the joint venture. The loan is a floating-rate, single-asset, single-borrower transaction led by Wells Fargo, with participation from JPMorgan Chase and Goldman Sachs.
The portfolio spans six major U.S. industrial markets—Atlanta, Dallas-Fort Worth, Charlotte, Tampa, as well as California’s East Bay and Inland Empire regions. As of September 2025, the properties were 91% leased to more than 950 unique tenants.
“We appreciate JLL’s expertise in securing competitive terms that provide us with enhanced flexibility to continue our growth strategy in the shallow-bay industrial sector, where we see tremendous opportunity to serve the evolving needs of logistics, e-commerce, and distribution tenants,” said Eric Smyth, CEO of CIP Real Estate.
The JLL Debt Advisory team was led by Kevin MacKenzie, Christopher Pratt, and Peter Thompson, with additional support from investment sales teams operating in the respective local markets.
