JLL Arranges $463M Financing For Manulife Investment Management And Scannell Properties Industrial Portfolio

The JLL Capital Markets group has arranged a $463 million loan for the recapitalization of a 13-property industrial portfolio. The portfolio consists of speculative, modern distribution facilities located across the United States. These properties have a current lease rate of 50% and a strong leasing pipeline, indicating high tenant demand. The loan, provided by Oxford Properties Group, will support the continued growth and development of these industrial assets.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $463,000,000
• Lender: Oxford Properties Group - Nu Suwankosai
• Landlord: Scannell Properties - Robert Scannell; Manulife Investment Management - Paul R. Lorentz
• Brokers: Keith Largay, Ken Martin, Tara Hagerty & Tucker Dixon - JLL

The recapitalization deal was facilitated by JLL's Keith Largay, Ken Martin, Tara Hagerty, and Tucker Dixon. They represented both Manulife Investment Management and Scannell Properties in this transaction. The loan, secured through Oxford Properties Group, provides the necessary financing for the portfolio's ongoing development and leasing efforts. The deal highlights the strong tenant demand for modern distribution facilities and the market's confidence in the industrial sector.