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JLL Lines Up More Acquisition Debt for NorthBridge Partners
JLL Capital Markets secured $27.3 million in financing for a two-building industrial portfolio spanning over 315,000 square feet in Central Massachusetts and Greater Hartford, CT. A JLL Capital Markets Debt Advisory team led by managing director Andrew Gray and director Ryan Parker represented NorthBridge Partners and arranged non-recourse acquisition financing through a national life insurance company.
The portfolio consists of two recently developed, mission-critical industrial facilities leased to a global ecommerce conglomerate and an advanced manufacturing company that primarily services the pharmaceutical and biotechnology industries. Both properties feature long-term leases, Class A construction and premier logistical connectivity for distribution and supply chain requirements, according to JLL.
Gray said, “We witnessed strong interest from national life insurance, regional banks and alternative capital providers in financing the portfolio of state-of-the-art industrial properties, which are mission critical to the tenant’s operations.”
The deal followed a $27.8-million acquisition loan JLL arranged for NorthBridge earlier in July.
- ◦Financing
