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National  + Finance  |  October 27, 2023
Paul Bubny
By: Paul Bubny

JLL Secures $869M Refi for Industrial Portfolio

JLL‘s Capital Markets group arranged a total of $869 million in financing for a 25-property bulk industrial portfolio totaling 11.4 million square feet in 13 major industrial markets across the U.S. The JLL Capital Markets Debt Advisory team was led by senior managing director John Rose, associate Ryan Pollack and Analyst Luke Rogers.

JLL worked on behalf of the undisclosed borrower to secure fixed-rate loans from Northwestern Mutual and PGIM Real Estate. The team secured two separate financings of $259 million and $195 million from Northwestern Mutual and a single $415-million loan from PGIM Real Estate.

The portfolio is comprised of newly built, Class A institutional-quality assets that are fully occupied by 42 diverse tenants. The JLL team worked closely with Kevin Westra and Bob Henning with Northwestern Mutual and Paul Geyer with PGIM Real Estate to facilitate the closings.

Read More News Stories About: JLL, PGIM
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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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