Northwestern Mutual And PGIM Refinance $869M Loan On Industrial Properties
JLL brokers $869M loan for industrial properties
11,400,000 SF
Summary
An undisclosed borrower has obtained $869 million in refinancing from Northwestern Mutual and PGIM Real Estate for a fully leased portfolio of 25 industrial properties totaling 11.4 million square feet in 13 U.S. markets. The debt includes fixed-rate deals with $259 million and $195 million from Northwestern Mutual, and $415 million from PGIM, with JLL Capital Markets arranging the financing.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $869,000,000
- Address: Industrial Properties
- Market: United States
- Asset Type: Industrial
- Square Footage: 11,400,000
The borrower has secured refinancing of $869 million for a fully leased portfolio of 25 industrial properties. Northwestern Mutual provided $259 million and $195 million, while PGIM Real Estate contributed $415 million. The financing was arranged by JLL Capital Markets.
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