Updated Oct 15, 2026
Equus Capital Partners Secures $718.2 Million Refinance For 52-Property Industrial Portfolio In Phoenix
Industrial Portfolio
$718,200,000
$138/SF
Building Size
5,200,000 SF
Asset Type
Industrial
Closing
Oct 14, 2026
About this deal
AI
The asset involved in the transaction is an industrial portfolio consisting of 52 properties located in Phoenix, AZ. This portfolio spans a total of 5,200,000 square feet and was 92% leased at the time of closing.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $718,200,000
- Loan Type: Refinance
- Loan Terms: 5-year
- Lender: Ted Pick - Morgan Stanley; Brian Moynihan - Bank of America
- Landlord: Stephen M. Spaeder - Equus Capital Partners
- Brokers: Kevin MacKenzie, Jason Carlos & Frank Choumas - JLL
The transaction was arranged by JLL, which facilitated a total financing of $718.2 million for the portfolio. The financing includes a $527.1 million single-asset, single-borrower transaction led by Morgan Stanley and a $191.1 million balance-sheet loan from Bank of America.
On the Map
$718,200,000
$138/SF
Industrial
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Players
Industrial Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.02%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93