On Tuesday, JLL Capital Markets announced that they successfully arranged $170 million in financing for the SkyREM Industrial Portfolio. The portfolio consists of 10 buildings primarily focused on industrial and warehouse distribution assets located across the Northeast, Southeast, and Midwest regions. Led by a team from JLL including Peter Rotchford as managing director, Lucas Borges as senior director, Riaz Cassum as executive managing director, and Steven Binswanger as senior managing director; they represented SkyREM to secure a fixed-rate loan through Apollo for five years.
The total square footage of the portfolio is approximately 2.5 million square feet spread across desirable markets in 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 99% occupancy rate with diverse tenants representing various industries such as technology manufacturing warehousing logistics aerospace,and government.Many tenants have been occupying these properties for an extended period ranging from one year to over twenty years with an average tenure of eight years.
Pictured: A Fiskars USA facility located in Wall Township,NJ.
SkyREM has successfully obtained a $170 million refinancing deal through Apollo for their industrial portfolio known as SkyREM Industrial Portfolio. This collection includes ten buildings mainly focused on industrial and warehouse distribution assets situated throughout the Northeast,Southeast,and Midwest regions.The borrower,SkyREM was represented by a team from JLL consisting of Peter Rotchford,Lucas Borges,Riaz Cassum,and Steven Binswanger who secured this fixed-rate loan lasting five years.
The total area covered by this portfolio is around 2.5 million square feet which are strategically placed within highly sought-after locations like South Carolina,North Carolina,new Jersey,Wisconsin,Iowa,Pennsylvania,and Georgia.These areas boast robust labor markets,low unemployment rates,and positive population growth trends according to JLL.
At the time of closing,the properties were fully leased with a 99% occupancy rate. These tenants represent diverse industries such as technology,manufacturing,warehousing,logistics,aerospace,and government. Many of these tenants have been occupying these properties for an extended period ranging from one year to over twenty years with an average tenure of eight years.
Pictured: A Fiskars USA facility situated in Wall Township,NJ.
