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AIREIT Secures $220M Refinance For 2.1M SF Industrial Portfolio Across US
FINANCED

AIREIT Secures $220M Refinance For 2.1M SF Industrial Portfolio Across US

AIREIT Secures $220M Refinance For 2.1M SF Industrial Portfolio Across US

Industrial
10,500,000 SF
clock iconFinanced 58 days ago
Jason Blankfein
Ernesto Sanchez
TJ Sullivan
+ 7
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Summary

Loan
CALIFORNIA
Industrial
10,500,000 sqft

The industrial portfolio involved in the transaction is a 2.1 million-square-foot property located across California, Nevada, Florida, Maryland, and Illinois. The loan amount for this industrial asset was $220 million, with KKR providing the refinancing through managed insurance accounts. The property is owned by Ares Industrial Real Estate Income Trust (AIREIT) and boasts a diverse range of institutional-grade tenants, aligning well with the strong market demand for industrial assets.

Summary of transaction details:

The financing deal was secured by Ares Industrial Real Estate Income Trust (AIREIT) through a $220 million refinance provided by KKR. Cushman & Wakefield's team played a crucial role in negotiating the debt for the industrial portfolio, which comprises nine buildings spread across various states in the US. The transaction reflects the confidence of investors in the industrial sector's performance, given the strong market demand and quality of tenants within the portfolio.

Players

  • All

    10

  • Agents

    9

  • Agencies

    1

Jason Blankfein's profile picture
Jason Blankfein
Cushman & Wakefield-image
Associate
$23M Sold
TJ Sullivan's profile picture
Alex Lapidus Okin's profile picture

Details

Deal Summary
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FINANCED
IMAGE: Adam Simon, Ian McConnell, Michael Arougheti, Alex Lapidus Okin, Alexander Hernandez, Brian Share, Ernesto Sanchez, Jason Blankfein, John Alascio, Joseph Lieske (@JosephLieske), Robert Rubano (@RobRubano) & TJ Sullivan DATE: 05/16/2024 ADDRESS: Industrial Portfolio MARKET: California, Nevada & Florida, Maryland & Illinois ASSET TYPE: Industrial ~ SF: 2,100,000 LENDER: Adam Simon & Ian McConnell - KKR (@KKR_Co) LANDLORD: Michael Arougheti - Ares Industrial Real Estate Income Trust (@Ares_Mgmt) BROKERS: Alex Lapidus Okin, Alexander Hernandez, Brian Share (@BrianShare), Ernesto Sanchez, Jason Blankfein (@JasonBlankfein) , John Alascio, Joseph Lieske (@JosephLieske), Robert Rubano (@RobRubano) & TJ Sullivan - Cushman & Wakefield LOAN AMOUNT: $220,000,000 LOAN TYPE: Refinance NOTE: Ares Industrial Real Estate Income Trust (AIREIT) secured a $220 million refinance for a 2.1 million-square-foot industrial portfolio across the US, with KKR providing the loan through managed insurance accounts and Cushman & Wakefield's team negotiating the debt. The portfolio, comprising nine buildings in California, Nevada, Florida, Maryland, and Illinois, boasts a diverse range of institutional-grade tenants and aligns with strong market demand for industrial assets, reflecting ongoing investor confidence in the sector's performance.

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AddressAIREIT Secures $220M Refinance For 2.1M SF Industrial Portfolio Across US

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