**Arden Group, Arcapita Secure $700M Loan to Refinance Industrial Portfolio**
A joint venture between Arden Logistics Parks and Arcapita has secured a $700 million loan to refinance an expansive industrial real estate portfolio totaling 7.2 million square feet across 167 properties.
The five-year, floating-rate loan was arranged by Tom Rugg, Tom Traynor, Mark Finan, Arman Samouk, and Kayla Kaloostian of CBRE. The portfolio consists primarily of small and mid-bay multi-tenant industrial facilities, a sector that has seen significant leasing activity since the pandemic.
“The execution of this transaction highlights the appeal of the small and mid-bay multi-tenant asset class, which has experienced strong leasing momentum since the pandemic due to the relatively shorter lease terms that enable owners to capture rising market rents,” said Tom Rugg, Vice Chairman at CBRE.
The properties are spread across the United States, including prime industrial markets such as Dallas, Atlanta, Indianapolis, and Boston.
“Shallow-bay industrial has continued to outperform every other real estate asset class, including larger industrial product,” added Craig Spencer, Chairman and CEO of Arden Group.
This sizable refinancing effort underscores continued investor interest in high-performing industrial real estate sectors.
