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JLL Arranges $131.9M Refinance Loan For Raleigh Properties National Portfolio Including Tesla Service Centers

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FINANCED
$131,909,000
Alex Sharrin
Marc Schillinger
+ 1

California

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Industrial3,442,000 SF
Financed 01/14/2025
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FINANCED

JLL Arranges $131.9M Refinance Loan For Raleigh Properties National Portfolio Including Tesla Service Centers

6349 East Slauson Avenue, 5945 Malt Avenue, 775 Trademark Cir & 1235 Elko Drive

See Similar Deals
Industrial3,442,000 SF
Financed 01/14/2025
Alex Sharrin
Marc Schillinger
+ 1
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Summary

CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$38
Total Square Footage:3,442,000 SF
Transaction Type:Loan

The transaction involves a refinance loan for a national portfolio consisting of 12 properties, which includes eight Tesla Service Centers, three industrial properties, and a research and development facility. The total square footage of the portfolio amounts to 860,500. The loan amount secured for this portfolio is $131,909,000, involving various markets such as San Antonio TX, Sunnyvale CA, Richmond TX, League City TX, Fayetteville GA, Jacksonville FL, Nashville TN, Fort Lauderdale FL, Commerce CA, Corona CA, and Issaquah WA.

Summary of transaction details:

  • Property Type: Industrial/Specialty Use/Tesla Service Center
  • Transaction Amount: $131,909,000
  • Loan Type: Refinance
  • Loan Terms: 5 to 7 years
  • Lenders: 2 Insurance Companies & 2 Regional Banks
  • Landlord: Raleigh Properties
  • Brokers: Marc Schillinger, Keaton Yellin & Alex Sharrin - JLL
  • Transaction Structure: Non-recourse financing arranged by JLL
  • Spreads: Ranged from 160 to 225

The key individuals involved in the transaction include brokers Marc Schillinger, Keaton Yellin, and Alex Sharrin, representing JLL in this deal. The involvement of multiple lenders facilitated the arrangement of this refinance loan, highlighting a structured approach to financing within a diverse portfolio.

Players

Marc Schillinger
49 deals$2.2B volume
BROKER

Alex Sharrin
JLL
35 deals$908M volume(305) 913-5545
BROKER

Brooke Hinkel
JLL
9 deals$463.9M volume
BROKER

Keaton Yellin
JLL
25 deals$745.2M volume
BROKER

Details

FINANCED
IMAGE: Marc Schillinger, Alex Sharrin & Keaton Yellin DATE: 01/14/2025 MARKET: San Antonio TX, Sunnyvale CA, Richmond TX, League City TX, Fayetteville GA, Jacksonville FL, Nashville TN, Fort Lauderdale FL, Commerce CA, Corona CA & Issaquah WA ASSET TYPE: Industrial/Specialty Use/Tesla Service Center ~ SF: 860,500 LENDER: (2) Insurance Companies & (2) Regional Banks LANDLORD: Raleigh Properties BROKERS: Marc Schillinger (@Smaaackdab), Keaton Yellin (@KeatonYellin) & Alex Sharrin - JLL (@JLL) LOAN AMOUNT: $131,909,000 LOAN TYPE: Refinance LOAN TERMS: 5 to 7 years NOTE FROM BROKER: JLL arranged non-recourse financing for a 12-property national portfolio that included 8 Tesla Service Centers, 3 Industrial properties, and an R&D facility. There were four lenders involved in the transaction including two banks and two insurance companies. Spreads ranged from 160 to 225 and loan terms ranged from 5 to 7 years with interest-only. $Tesla , ,

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$131,909,000.00

Monthly NOI$879,393.33
Monthly Debt Service$833,754.61
Change in Cash Flow$0.00
Refinance Proceeds$0.00