Faropoint Secures $273 Million Loan From Capital One And J.P. Morgan For Industrial Portfolio Financing

The asset involved in the transaction is an industrial portfolio comprising 61 properties and totaling 3.5 million square feet. The market locations for this portfolio include Atlanta, Chicago, Cincinnati, Dallas, New York/Northern New Jersey, Philadelphia, San Antonio, and Tampa. Faropoint's landlord for this portfolio is Adir Levitas, who facilitated the refinancing process.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $273,000,000
• Lender: Capital One and J.P. Morgan
• Loan Terms: Two-year, non-recourse loan with three 12-month extensions
• Asset Coverage: 96% leased assets with a 3.8-year WALT

The individuals involved in this transaction include Tom Traynor, Tom Rugg, Mark Finan, and Henry Fenmore, who are representatives from CBRE. The refinancing undertaken aims to extend debt maturities, strengthen risk management, and enhance distribution capacity as Fund II enters its value-realization phase.