Arden Logistics Parks Refinances Industrial Portfolio In Florida Illinois And North Carolina For $99.1M

The asset involved in the transaction is an industrial portfolio consisting of five multi-tenant industrial parks located across Florida, Illinois, and North Carolina. This portfolio encompasses a total square footage of 765,000, with an occupancy rate of 84.4% leased to various tenants situated near key transportation hubs.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $99,100,000
• Lender: Michael Arougheti - Ares Management
• Landlord: Craig A. Spencer - Arden Logistics Parks
• Brokers: Geoff Goldstein, Jillian Mariutti & Lauren Kaufman - JLL
• Loan Terms: floating-rate

This transaction involves the refinancing of the portfolio by Arden Logistics Parks through a loan from Ares Management, which was facilitated by brokers from JLL. The transaction highlights the collaborative effort of multiple parties in securing financing for strategically located industrial assets within targeted markets.