CushWake Secures $38M Acquisition Loan for Memphis Industrial Portfolio
Cushman & Wakefield has arranged a $38.3 million acquisition loan for a three-building, 1.1 million-square-foot industrial portfolio in Memphis, TN.
Located in Memphis’ Southwest Submarket, the portfolio is fully leased by Geodis Logistics and Dayco Products. Properties in the acquisition include 5510 East Holmes Rd., which totals 433,100 square feet; 5540 East Holmes Rd., which totals 283,500 square feet; and 3530 East Raines Rd., which totals 398,669 square feet.
Mike Ryan, Brian Linnihan and J.P. Cordeiro of Cushman & Wakefield secured the financing on behalf of the borrower, LRC Properties. Capital One provided the financing.
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector.
Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA.
David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.