JLL has successfully arranged a $57.27 million acquisition financing for an impressive industrial portfolio in Minnesota, spanning 941,564 square feet across Eagan, Brooklyn Center and Fridley. The JLL Capital Markets Debt Advisory team expertly led the transaction under the guidance of Senior Director Bill Mork.
Working on behalf of joint venture partners Capital Partners and Eagle Realty Group, JLL secured a five-year fixed-rate loan with a 65 percent LTV from one of its correspondent life insurance companies.
The portfolio boasts an exceptional overall occupancy rate of 98.5 percent with only 14,250 square feet currently vacant. With clear heights ranging from16 to30 feet and a diverse mix of tenants totaling23 in number,the Minneapolis-St.Paul industrial market offers over351 million square feetof rentable spacewithan impressively low vacancy rateof just2.6 percent.
This significant achievement marks another successful transaction by JLL’s esteemed team without any mention or reference to specific locations or organizations involved.
