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Clarion Furnishes $415M Mezz Loan on Blackstone Industrial
Clarion Partners, LLC is providing a $415-million mezzanine loan as part of a package that will refinance a portion of Blackstone’s Cubic/Colony industrial portfolio comprising 110 industrial properties totaling 15.7 million square feet located across 15 markets.
The high-quality portfolio, which is more than 93% leased to a diverse roster of 300-plus unique local, regional, and national tenants, includes properties located primarily in the Dallas-Fort Worth, Phoenix, Baltimore, and Atlanta markets. The portfolio benefits from continued strong demand trends in the logistics market and their prime MSA locations.
“Clarion Partners’ deep expertise in the logistics sector combined with our debt team’s longstanding focus on mezzanine financing positioned us to facilitate the transaction’s compressed time frame,” said New York City-based managing director Drew Fung. “Clarion Partners is pleased to provide financing on this impressive portfolio of logistics properties.”
- ◦Financing
