Brennan Investment Group And Farallon Capital Secure $252.5M Loan For Lower Terra Industrial Portfolio

The transaction involves a floating-rate loan secured for the Lower Terra Industrial Portfolio, consisting of 21 properties with a combined square footage of 3,600,000 square feet. The asset is located across 17 U.S. markets in 13 states, with a 98% occupancy rate among tenants averaging over 30 years of occupancy. The loan amount for this financing is $252,500,000, structured as a five-year term.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $252,500,000
• Lender: Apollo
• Landlord: Michael Brennan - Brennan Investment Group; Farallon Capital
• Brokers: Lucas Borges, Matthew Schoenfeldt & Tara Hagerty - JLL
• Loan Terms: five-year, floating-rate

This deal was arranged by JLL, which facilitated the floating-rate loan from Apollo affiliates specifically for Brennan Investment Group and Farallon Capital, aimed at financing the extensive industrial portfolio.