Criterion Group And Columbia Pacific Advisors Secure $180M Refinance Loan From Axos Bank

A joint venture of Criterion Group and Columbia Pacific Advisors has secured a loan to refinance a portfolio of 34 industrial outdoor storage assets encompassing 15.4 million square feet across various markets in the East Coast. The properties are located in Connecticut, Florida, Georgia, Maryland, Massachusetts, Mississippi, New Jersey, New York, North Carolina, Tennessee, Texas, and Virginia. The loan amount totals $180 million and is structured as a five-year, floating-rate loan.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $180,000,000
• Lender: Axos Bank
• Landlord: Criterion Group & Columbia Pacific Advisors
• Brokers: Christopher Peck & Peter Rotchford - JLL
• Loan Type: Refinance
• Loan Terms: five-year, floating-rate loan
• Total Square Footage: 15.4 million sf
• Total Number of Assets: 34
• Total Acreage: 290 acres

JLL played a crucial role in arranging the refinancing deal, facilitating the transaction in significant East Coast logistics markets. The extensive portfolio secured under this loan highlights the collaborative efforts of the involved parties in optimizing asset management and capitalizing on market opportunities.