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Chicago-Based JLL Team Arranges Financing for 17-State Industrial Service Portfolio 

JLL Capital Markets arranged $61 million in acquisition financing for an industrial portfolio comprising nearly two-dozen last-mile, cross-dock truck terminals and transload properties across 17 key markets in the Southeast, Mid-Atlantic, New England and Central U.S. Chicago-based Matthew Schoenfedlt and Lucas Borges worked on behalf of the borrower, Minneapolis-based Biynah Industrial Partners, to source the acquisition loan. 

The portfolio is 93% leased to 18 tenants with an average tenure of nearly 17 years and substantial investment-grade in-place tenancy. This portfolio highlights the growing demand for industrial service facilities, a rapidly growing multibillion-dollar asset class that is suddenly on the radar of institutional investors, due to the facilities’ critical role in the movement of goods amidst supply chain backlogs.   

“This was a unique portfolio,” said Jeff Josephs, managing member of Biynah. “Matt and Lucas found the ideal partner for us on the debt side that made the acquisition seamless.” 

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Inside The Story

JLL's SchoenfeldtBiynah's Josephs

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
  • ◦Financing
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