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National  + Pennsylvania  + Industrial  |  March 18, 2020
Paul Bubny
By: Paul Bubny

NKF Arranges $163M Debt for Arden’s Industrial Portfolio

NKF arranged a $163-million floating-rate loan for the Arden Group’s acquisition and recapitalization of a 12-asset industrial portfolio located in high-growth submarkets throughout the U.S. Philadelphia-based Arden is acquiring a portfolio of assets from Avistone, spread across San Antonio and Dallas, TX; Atlanta, GA and Columbus, OH, for an undisclosed purchase price.

The NKF team was led by New York-based Dustin Stolly and Jordan Roeschlaub, co-heads of debt & structured finance, along with senior managing directors Chris Kramer and Nick Scribani and associate Shervin Tork. Both CIT and BlackRock provided the loan.

Avistone assembled the portfolio in transactions dating back to June 2014. They’ll be combined with two Philadelphia and Charlotte properties already acquired by Arden in the second half of 2018. The new financing will retire the securitized debt on the acquisition targets, while paying down the bridge loan on the Philadelphia and Charlotte assets.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-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 7-10 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).
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