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Ares Management Secures $475 Million Loan For 25-Building Industrial Portfolio Across 12 States

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FINANCED
$475,000,000
Ernesto Sanchez
Robert (Rob) Rubano
Joseph ''Joe" Lieske
+ 3

National

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Industrial4,800,000 SF
Financed 10/21/2024
the dealplayerscompscontact
Property Image
FINANCED

Ares Management Secures $475 Million Loan For 25-Building Industrial Portfolio Across 12 States

Industrial4,800,000 SF
Financed 10/21/2024
Ernesto Sanchez
Robert (Rob) Rubano
Joseph ''Joe" Lieske
+ 3
the dealplayerscompscontact
Contact now

Summary

Asset Type:Industrial
Price Per Square Foot:$99
Total Square Footage:4,800,000 SF
Transaction Type:Loan

Ares Management secured financing for a 25-building industrial portfolio comprising 4.8 million square feet across 12 markets, including Atlanta, Reno, Las Vegas, California, Salt Lake City, Phoenix, Houston, Denver, Orlando, Jersey City, Indianapolis, Chicago, and Portland. The portfolio is 97% leased and includes Class A and B warehouse and light industrial assets.

Summary of transaction details:

Cushman & Wakefield arranged the transaction, involving key individuals such as Brian Share, Ernesto Sanchez, Gideon Gil, Joseph Lieske, Lars Weston, and Robert Rubano, who played critical roles in facilitating the financing deal with the lenders leading the engagement.

Players

Brian Share
Cushman & Wakefield
Brian Share
24 deals$3.8B volume(310) 595-2231
BROKER
Gideon Gil
Cushman & Wakefield
Gideon Gil
50 deals$11.1B volume
BROKER
Joseph ''Joe" Lieske
Cushman & Wakefield
Joseph ''Joe" Lieske
7 deals$2.5B volume
BROKER
Robert (Rob) Rubano
Hines
Robert Rubano
34 deals$6.5B volume
BROKER
Ernesto Sanchez
Hines
Ernesto Sanchez
7 deals$1.3B volume
BROKER
Lars Weston
Cushman & Wakefield
Lars Weston
3 deals$574.5M volume
BROKER

Details

FINANCED
IMAGE: Brian Share, Ernesto Sanchez, Gideon Gil, Joseph Lieske, Lars Weston & Robert Rubano DATE: 10/21/2024 ADDRESS: Industrial Portfolio MARKET: Atlanta, GA; Reno & Las Vegas, NV; California; Salt Lake City, Utah; Phoenix, AZ; Houston, TX; Denver, CO; Orlando, FL; Jersey City, NJ; Indianapolis, IN; Chicago, IL; Portland, OR ASSET TYPE: Industrial ~ SF: 4,800,000 LENDER: J.P. Morgan (@JPMorgan), Morgan Stanley (@Morgan.Stanley) & Natixis Corporate & Investment Banking LANDLORD: Ares Management Real Estate (@Ares_Mgmt) BROKERS: Brian Share, Ernesto Sanchez, Gideon Gil, Joseph Lieske (@JosephLieske), Lars Weston (@LarsWeston) & Robert Rubano (@RobRubano) - Cushman & Wakefield (@CushWake) LOAN AMOUNT: $475,000,000 LOAN TERMS: floating-rate NOTE: Ares Management secured $475 million in CMBS financing for a 25-building, 4.8 million-square-foot industrial portfolio across 12 states, with J.P. Morgan, Morgan Stanley, and Natixis leading the lending. Cushman & Wakefield arranged the deal, with the portfolio 97% leased and comprising Class A and B warehouse and light industrial assets.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$475,000,000.00

Monthly NOI$3,166,666.67
Monthly Debt Service$3,002,323.11
Change in Cash Flow$0.00
Refinance Proceeds$0.00