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Allianz Provides $135M Take-Out for Pair of New Baltimore Industrial Buildings
HFF arranged $135 million in financing on behalf of Tradepoint Atlantic for two new, build-to-suit, Class A industrial buildings totaling 2.2 million square feet in Sparrows Point, MD fully leased to Under Armour and Amazon.com. The facilities are within the Tradepoint Atlantic multimodal industrial project, roughly five miles southeast of Baltimore’s CBD.
Two separate, non-recourse loans were placed with Allianz Real Estate, including a $71.8-million, 18-year, fixed-rate loan for the 1.35-million-square-foot Under Armour facility completed in 2018 and a $63.2-million, 17-year, fixed-rate loan for the 857,514-square-foot Amazon facility, also completed in 2018.
The Tradepoint Atlantic site covers 3,250 acres on the Sparrows Point peninsula along the Patapsco River at the gateway to the Port of Baltimore. The location is near Interstate 695, which bifurcates the site, encircles Baltimore and connects to additional transportation routes.
HFF’s Cary Abod, Rob Carey and Kevin Byrd represented the borrower.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
- ◦Development
