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JLL Secures $30M Loan For Sagard Real Estate's Industrial Portfolio

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FINANCED
$30,000,000
Eric Tupler
Christopher (Chris) Collins
Kristian Lichtenfels
+ 2

Texas

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Industrial990,534 SF
Financed 06/05/2024
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FINANCED

JLL Secures $30M Loan For Sagard Real Estate's Industrial Portfolio

2230 Avenue J, 6650 Top Gun Street & 824 East University Drive

See Similar Deals
Industrial990,534 SF
Financed 06/05/2024
Eric Tupler
Christopher (Chris) Collins
Kristian Lichtenfels
+ 2
the dealplayerscompscontact
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Summary

TEXAS
Asset Type:Industrial
Price Per Square Foot:$30
Total Square Footage:990,534 SF
Transaction Type:Loan

The three-property portfolio involved in the transaction is an Industrial asset totaling 330,178 square feet. The properties are located at 2230 Avenue J in Arlington, TX; 6650 Top Gun Street in San Diego, CA; and 824 East University Drive in Phoenix, AZ.

Summary of transation details:

  • Property Type: Industrial
  • Transaction Amount: $30,000,000
  • Address: 2230 Avenue J, 6650 Top Gun Street & 824 East University Drive
  • Market: Arlington, TX; San Diego, CA; Phoenix, AZ

JLL Capital Markets, through its brokers Christopher Collins, Eric Tupler, Jarrod Howard, Kristian Lichtenfels, and Will Mogk, secured a four-year, full-term interest-only, fixed-rate loan at a 6.12% interest rate from a national correspondent life insurance company for Sagard Real Estate's properties.

Players

Kristian Lichtenfels
JLL
Kristian Lichtenfels
4 deals$79.3M volume
BROKER
Christopher (Chris) Collins
JLL
Christopher Collins
8 deals$95.1M volume
BROKER
Eric Tupler
JLL
Eric Tupler
13 deals$592.8M volume
BROKER
Jarrod Howard
JLL
Jarrod Howard
3 deals$126.5M volume(503) 320-9955
BROKER
Will Mogk
JLL
Will Mogk
3 deals$132.1M volume(214) 438-6549
BROKER

Details

FINANCED
IMAGE: Tom Karbowski, Christopher Collins, Eric Tupler, Jarrod Howard, Kristian Lichtenfels & Will Mogk DATE: 06/05/2024 ADDRESS: 2230 Avenue J, 6650 Top Gun Street & 824 East University Drive MARKET: Arlington, TX; San Diego, CA; Phoenix, AZ ASSET TYPE: Industrial ~ SF: 330,178 LANDLORD: Tom Karbowski - Sagard Real Estate BROKERS: Christopher Collins, Eric Tupler, Jarrod Howard, Kristian Lichtenfels & Will Mogk (@WillMogk) - JLL (@JLL) LOAN AMOUNT: $30,000,000 LOAN TERMS: four-year, full-term interest-only, fixed-rate loan NOTE: JLL Capital Markets secured $30 million in financing for a three-property portfolio totaling 330,178 square feet in Texas, California, and Arizona for Sagard Real Estate. The four-year, full-term interest-only loan at a 6.12% fixed rate was arranged through a national correspondent life insurance company.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$30,000,000.00

Monthly NOI$200,000.00
Monthly Debt Service$189,620.41
Change in Cash Flow$0.00
Refinance Proceeds$0.00