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CIP, Almanac Refi Shallow-Bay Industrial Portfolio for $820M
CIP Real Estate has closed on an $820-million loan refinance for a national portfolio comprising 42 shallow-bay industrial properties totaling approximately 6.13 million square feet. JLL represented a joint venture between affiliates of CIP and Almanac Realty Investors to secure a floating-rate, single-asset single-borrower refi led by Wells Fargo, with JPMorgan Chase and Goldman Sachs also originating portions of the loan.
The portfolio spans six major industrial markets including Atlanta, Dallas-Fort Worth, Charlotte, Tampa and California’s East Bay and Inland Empire. As of September 2025, the portfolio was 91% leased to more than 950 unique tenants.
“We appreciate JLL’s expertise in securing competitive terms that provide us with enhanced flexibility to continue our growth strategy in the shallow bay industrial sector, where we see tremendous opportunity to serve the evolving needs of logistics, e-commerce and distribution tenants,” said Eric Smyth, CEO of CIP Real Estate.
The JLL Debt Advisory team was led by Kevin MacKenzie, Christopher Pratt, and Peter Thompson, with additional support from investment sales teams in local markets.
- ◦Financing
