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JLL Secures $577.6 Million Loan For LBA Logistics' 25-Property Industrial Portfolio Across 10 States

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FINANCED
$577,625,000
Christopher "Chris" Pratt
Brian Torp
Kevin MacKenzie

National

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Industrial7,040,030 SF
Financed 09/30/2024
the dealplayerscompscontact
Property Image
FINANCED

JLL Secures $577.6 Million Loan For LBA Logistics' 25-Property Industrial Portfolio Across 10 States

Industrial7,040,030 SF
Financed 09/30/2024
Christopher "Chris" Pratt
Brian Torp
Kevin MacKenzie
the dealplayerscompscontact
Contact now

Summary

Asset Type:Industrial
Price Per Square Foot:$82
Total Square Footage:7,040,030 SF
Transaction Type:Loan

The asset involved is LBA Logistics' industrial portfolio consisting of 25 properties totaling 7,040,030 square feet located across various markets including California, New Jersey, Utah, Washington, Florida, Georgia, Nevada, Ohio, Kentucky, and Tennessee. The financing secured for this portfolio amounted to $577,625,000.

Summary of transaction details:

This arrangement included a loan led by JPMorgan, with Bank of America and Wells Fargo serving as joint bookrunners. The pricing for this financing was secured at 195 basis points over SOFR. JLL played a crucial role in arranging the CMBS financing for the portfolio.

Players

Kevin MacKenzie
JLL
Kevin MacKenzie
25 deals$4.4B volume(949) 870-8722
BROKER
Brian Torp
JLL
Brian Torp
7 deals$1.8B volume
BROKER
Christopher "Chris" Pratt
JLL
Christopher Pratt
22 deals$5.7B volume
BROKER

Details

FINANCED
IMAGE: Brian Torp, Christopher Pratt & Kevin MacKenzie DATE: 09/30/2024 ADDRESS: Industrial Portfolio MARKET: California, New Jersey, Utah, Washington, Florida, Georgia, Nevada, Ohio, Kentucky & Tennessee ASSET TYPE: Industrial ~ SF: 7,040,030 LENDER: JP Morgan (@JPMorgan), Wells Fargo (@WellsFargo) & Bank of America (@BankofAmerica) LANDLORD: LBA Logistics BROKERS: Brian Torp, Christopher Pratt & Kevin MacKenzie - JLL (@JLL) LOAN AMOUNT: $577,625,000 LOAN TERMS: five-year floating-rate NOTE: JLL arranged a $577.6 million CMBS financing for LBA Logistics’ 25-property, 7 million-square-foot industrial portfolio across 10 states, including Orlando and Los Angeles. The five-year floating-rate loan was led by JPMorgan with Bank of America and Wells Fargo as joint bookrunners, securing a pricing 195 basis points over SOFR. , Kentucky and Tennessee &Company

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$577,625,000.00

Monthly NOI$3,850,833.33
Monthly Debt Service$3,650,982.92
Change in Cash Flow$0.00
Refinance Proceeds$0.00