BWE Secures $139M in Financing for Manufacturing Portfolio

Cleveland-based BWE has secured $139,070,000 in first mortgage financing for a portfolio of 31 manufacturing properties totaling over 4.5 million square feet which span across the U.S., including one property in Canada.

Kevin Hicks, senior vice president and Michelle Pericci, assistant vice president in BWE’s Philadelphia office, secured 10-year CMBS financing with full-term interest-only payments on behalf of JB Poindexter and Co, a nationwide manufacturing company.

The portfolio, comprised of 31 properties in 20 states and the Canadian province of Quebec, features light manufacturing facilities strategically positioned to allow for efficient distribution. The properties are 100% occupied by owner-affiliated tenants and are used for truck body fabrication and assembly, as well as vehicle storage and servicing.

“Seeking favorable financing terms for a portfolio of this size and makeup presents a number of challenges for sponsors—namely, a lack of interested lenders, since there is a tendency to look at manufacturing as a suboptimal asset class,” said Hicks.

Michael Brennan will receive Connect CRE’s Lifetime Achievement Award and will participate in the Keynote Interview with Kevin Brennan, also of Brennan Investment Group. Join us at Connect Industrial Midwest 2025 on the afternoon of Wednesday, March 5, at Joe’s Live in Rosemont, IL, for this exclusive presentation!