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IPA Capital Markets Arranges $50M for 18-Property Industrial Portfolio
IPA Capital Markets, a division of Marcus & Millichap, announced that the firm has arranged $50 million in financing for an 18-property industrial portfolio located across Texas, Oklahoma and Georgia.
IPA Capital Markets’ Managing Director Frank Montalto and Director Ethan Splan, both based in the company’s Chicago, Illinois, office, closed the financing transaction. The non-recourse loan features a five-year term, a 70% loan-to-value ratio, a 6.75% interest rate and interest-only payments throughout the loan term.
“This financing reflects the continued strength of well-located industrial assets and the durability of lender demand for stabilized portfolios with strong fundamentals,” said Montalto. “We were pleased to secure non-recourse financing with competitive leverage and pricing that supports the sponsor’s long-term business plan across these markets.”
In January, IPA’s Montalto and Splan also arranged the $96.7 million financing of three industrial properties in Rockford, Illinois. That portfolio spanned 650,000 square feet, including two fully stabilized, mission-critical industrial buildings totaling 503,395 square feet.
