Cushman & Wakefield acted as an advisor to an Ares Management Real Estate fund in securing $475 million in financing for a 4.8-million-square-foot industrial portfolio spanning 25 buildings across 16 markets and 12 states. The financing, provided by a syndicate led by JPMorgan with joint bookrunners Morgan Stanley and Natixis Corporate & Investment Banking, is backed by floating-rate CMBS single-borrower loans.
The team at Cushman & Wakefield’s Equity, Debt and Structured Finance division was led by Rob Rubano, Gideon Gil, Brian Share, Joe Lieske Ernesto Sanchez,and Lars Weston.
Rubano stated that the collateral for this deal is of high quality with geographic diversity and potential for increased rental income. He also mentioned that the flexible floating rate structure offers competitive terms to maintain flexibility.
Share added that the SASB market continues to be strong in debt capital markets in 2024. This refinancing saw significant demand from bond-buyers and resulted in competitive tightening spreads.
Overall Summary:
Cushman & Wakefield played a key role as advisor to Ares Management Real Estate fund which successfully secured $475 million financing through CMBS on their diverse industrial portfolio spanning multiple states. Led by experienced professionals such as Rob Rubano,Gideon Gil,Brian Share,Joe Lieske Ernesto Sanchez,and Lars Weston,the team ensured high-quality collateral along with flexible terms leading towards successful completion of this transaction amidst strong demand from bond-buyers within SASB market segment .
