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New York & Tri-State  + Midtown New York  + Finance  | 
Square Mile Capital industrial financing

Square Mile Capital Provides $127M Loan on Three-State Industrial Portfolio

New York City-based Square Mile Capital Management LLC originated a $127-million loan secured by a six-property, 1.2-million-square-foot industrial portfolio in Palm Beach, FL, Central Pennsylvania and Northern New Jersey. The loan was made to Dalfen Industrial and an institutional joint venture equity partner, who are acquiring the newly delivered properties from three different sellers. 

The financing was arranged by JLL’s Campbell Roach, Chris McColpin and team. 

Square Mile principal Eric Cohen said, “Institutional sponsorship along with the vintage and quality of the real estate in supply constrained industrial submarkets made this opportunity very compelling. We are seeing increasing reliance on e-commerce which further drives already surging appetite for last-mile logistics and other industrial space and we expect this diverse portfolio to be the beneficiary of this demand.” 

Five of the six assets were built between 2018 and 2021, with the sixth currently under construction. Completion  is slated for July 2022.  

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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 13-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 15-20 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).

  • ◦Financing