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Seagis Property Group Secures $112M Refi for 12-Property Industrial Portfolio in South Florida
Seagis Property Group, LP, has secured a $112-million refinancing for its 12-property infill industrial portfolio totaling 895,958 square feet in Miami and Ft. Lauderdale, FL.
Jim Cadranell, Gregory Nalbandian, Maxx Carney and Michael Lachs of JLL arranged the seven-year, fixed-rate loan through a correspondent life company.
“Our client created significant value by substantially increasing rents across a majority of the portfolio enabling them to cash out significant equity within a short period after acquiring the properties,” said Nalbandian. “We were also able to secure a very attractive seven-year full-term interest-only loan and lock the interest rate well before the recent run-up in treasuries.”
The portfolio is a mix of Class A and B single and multi-tenant properties that were acquired within the past two years. Since the acquisition, a majority of the assets were re-tenanted and renewed at substantial increases in rent.
- 255 NE 181st St., Miami
- 3075 NW 10th Ave., Doral
- 8850 NW 15th St., Doral
- 9700 NW 17th St., Doral
- 10100 NW 25th St., Doral
- 10005 NW 58th St., Doral
- 12800 NW 113th Court, Medley
- 3501 Commerce Parkway, Miramar
- 1919 NW 19th St., Ft. Lauderdale
- 2765 SW 36th St., Ft. Lauderdale
- 3400-3406 SW 26th Terrace, Ft. Lauderdale
- 280 NW 12th Ave., Pompano Beach
Photo, t-b: 10005 NW 58th St., 12800 NW 113th Ct.
- ◦Financing
