Wells Fargo Provides $456M Refi on Family Dollar Warehouse Portfolio

Wells Fargo provided a $455.7-million, floating-rate refinancing for an eight-property, 7.1-million-square-foot national distribution center portfolio leased to Family Dollar. JLL Capital Markets senior managing director Christopher Peck, and directors Christopher Pratt and Alex Staikos arranged the financing on behalf of 1959 RE Holdings, LLC, a Delaware limited liability company, controlled and partially owned by affiliates of Brigade Capital Management, LP and Macellum Capital Management LLC.

The portfolio consists of eight bulk distribution centers totaling 7,106,000 square feet and is 100% leased to Family Dollar under a long-term absolute triple-net master lease. The facilities range in size from 832,000 to 907,000 square feet, with each reaching more than 123 million people within a 12-hour drive.

“The transaction attracted significant lender interest because it sits at the intersection of a successful private-equity led turnaround of a longstanding, recession-proof operating business and mission-critical industrial real estate at an attractive basis,” said Peck.

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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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