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MDH Secures $90M Discovery Expansion Loan from Wells Fargo
MDH Partners closed on $90 million in financing from Wells Fargo Bank, expanding an existing $93 million Discovery Loan. The new loan supports MDH’s acquisitions of the Great Valley Commerce Center near Atlanta and the South Belt Central Building 4 in Houston.
Chris Drew and Maxx Carney of JLL Miami represented MDH Partners in the deal. Melissa Frawley and Steve Hinkle of Wells Fargo originated the loan for MDH Partners.
“Despite turbulence in the broader capital markets, JLL is still finding attractive financing solutions for best in class sponsors such as MDH, who are acquiring and developing in major markets with strong fundamentals,” said Drew.
According to JLL’s Q1 Industrial Outlook report, leasing data indicates volume dropped 16.3 percent from Q4 2024. Vacancy rates have increased 40 basis points from the prior quarter to 3.8 percent. Absorption in the first quarter posted a 47-percent year-over-year decline.
- ◦Financing