Updated Oct 8, 2026
JLL Income Property Trust Closes $68.5 Million Loan For Whitestown Distribution Center IV
5190 State Road 267
$68,500,000
$62/SF
Building Size
1,100,000 SF
Asset Type
Industrial
Closing
Oct 7, 2026
About this deal
AI
The transaction involves a loan secured for the Whitestown Distribution Center IV, an industrial asset located at 5190 State Road 267, Lebanon, IN. The property spans an area of 1,100,000 square feet and is fully leased. The total loan amount is $68,500,000, with the loan terms set for a duration of 7 years at an interest rate of 5.54%.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $68,500,000
- Loan Terms: 7-year
- Address: 5190 State Road 267
- Market: Lebanon, IN
- Landlord: Allan Swaringen - JLL Income Property Trust
- Asset Size: 1,100,000 SF
JLL Income Property Trust is managing the mortgage loan, which serves to reinforce the REIT’s industrial portfolio valued at approximately $2.7 billion across 66 properties as of September 30, prior to the transaction. This loan adds fixed-rate leverage to enhance the financial stability of the portfolio.
On the Map
$68,500,000
$62/SF
Industrial
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Players
Elkin 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
0.23%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93