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Washington DC & Mid-Atlantic  + Maryland  + Finance  |  May 17, 2024
Emily Fu
By: Emily Fu

Cushman & Wakefield Arranges $220M Financing for 2.1M-SF Industrial Portfolio

Cushman & Wakefield has facilitated a $220 million financing deal for Ares Industrial Real Estate Income Trust, Inc., backed by a 2.1 million-square-foot industrial portfolio in five states. The loan, provided by KKR-managed insurance accounts, was arranged by a Cushman & Wakefield team led by Rob Rubano, John Alascio, Alex Hernandez, Brian Share, Alex Lapidus, Joe Lieske, TJ Sullivan, Ernesto Sanchez, and Jason Blankfein. 

The portfolio includes nine industrial properties in California, Florida, Illinois, Nevada, and Maryland, ranging in size from 156,000 to 482,000 square feet. These properties are leased to 10 institutional-grade tenants and feature industrial amenities such as an average clear height of 31 feet, ample dock doors, and office space.  

“This is a high-quality, diversified industrial portfolio serving major logistics hubs and growth markets we know well, making it a great match for our long-term capital,” said Ian McConnell, director at KKR. 

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Inside The Story

Rob Rubano

About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.
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