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Cannon TTM Secures $60 Million Loan For Industrial Portfolio Acquisition In Hammond And Jacksonville

Property Image
SOLD
$85,250,000
Jeff Sause
Joshua Blank

Florida

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Industrial2,100,000 SF
Sold 02/07/2025
the dealplayerscompscontact
Property Image
SOLD

Cannon TTM Secures $60 Million Loan For Industrial Portfolio Acquisition In Hammond And Jacksonville

Industrial2,100,000 SF
Sold 02/07/2025
Jeff Sause
Joshua Blank
the dealplayerscompscontact
Contact now

Summary

Asset Type:Industrial
Price Per Square Foot:$40
Total Square Footage:2,100,000 SF
Transaction Type:Sale

An industrial portfolio consisting of assets located in Hammond, Louisiana, and Jacksonville, Florida, has been secured with a loan amount of $60 million for acquisition purposes. This portfolio spans a total square footage of 2,000,000 and is fully leased to the grocery chain Winn-Dixie.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $60,000,000
  • Loan Type: Acquisition
  • Loan Terms: 10-year fixed-rate
  • Landlord: Tyler Mateen - Cannon TTM
  • Brokers: Jeff Sause & Joshua Blank - JLL
  • Market: Hammond, Louisiana & Jacksonville, Florida

JLL played a crucial role in this transaction by arranging the $60 million in CMBS financing, which is vital for supporting the distribution centers operated by the grocer. The debt advisory team was led by brokers Jeff Sause and Joshua Blank.

Players

Jeff Sause
JLL
Jeff Sause
33 deals$1.6B volume
BROKER
Joshua Blank
JLL
Joshua Blank
4 deals$261.9M volume
BROKER

Details

SOLD
IMAGE: Joshua Blank, Tyler Mateen & Jeff Sause DATE: 02/07/2025 ADDRESS: Winn Dixie Industrial Portfolio MARKET: Hammond, Louisiana & Jacksonville, Florida ASSET TYPE: Industrial ~ SF: 2,100,000 BUYER: Tyler Mateen (@TMateen) - Cannon TTM MORTGAGE BROKERS: Jeff Sause & Joshua Blank - JLL (@JLL) SALE PRICE: $85,250,000 SF: 2,100,000 ~ PPSF: $41 LOAN AMOUNT: $60,000,000 LOAN TYPE: Acquisition LOAN TERMS: 10-year fixed-rate NOTE: Cannon TTM acquired a 2.01M SF industrial portfolio in Jacksonville, FL, and Hammond, LA, for $85.25M, securing $60M in CMBS financing arranged by JLL Capital Markets. The properties, fully leased to Winn-Dixie, serve as mission-critical distribution centers in prime Southeast industrial corridors.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$4,546,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$302,875.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$404,128.49
Annual Debt Service$4,849,541.91