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JLL Secures $577.625M SASB Financing for LBA Logistics Portfolio

JLL Secures $577.625M SASB Financing for LBA Logistics Portfolio

Slice of Real Estate Team
October 04, 2024

Key Highlights:

$577.625 million SASB financing for LBA Logistics Value Fund VII portfolio
25 industrial properties totaling 7,040,030 sq. ft. across 10 states
Loan arranged through syndicate led by J.P. Morgan, with Bank of America and Wells Fargo
Properties located in key markets like Los Angeles and Orlando, with 100% occupancy

Source: PR Newswire

Notable Quote:

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“This is the lowest pricing for a floating-rate industrial SASB since March, which is a testament to the strength of the sponsor, portfolio, and strategy.”

Kevin MacKenzie, Executive Managing Director at JLL

Our Take:

This financing deal highlights the growing demand for well-located, in-fill industrial assets, particularly in key markets with strong demographics. The successful execution of this SASB loan underscores the strength of both the sponsor and the industrial sector's continued resilience. Additionally, the strategic approach in securing an oversubscribed loan, especially at a competitive rate, further demonstrates JLL's expertise in navigating complex market conditions for its clients.