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Barings Provides $115 Million Loan To Goldman Sachs Alternatives And CLX Ventures In Irving

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FINANCED
$115,000,000
Ryan Pollack
Campbell Roche
+ 2

Texas

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Industrial1,953,620 SF
Financed 10/03/2024
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Property Image
FINANCED

Barings Provides $115 Million Loan To Goldman Sachs Alternatives And CLX Ventures In Irving

Industrial1,953,620 SF
Financed 10/03/2024
Ryan Pollack
Campbell Roche
+ 2
Contact now

Summary

Asset Type:Industrial
Price Per Square Foot:$58
Total Square Footage:1,953,620 SF
Transaction Type:Loan

The DFW Commerce Center Phases II and III comprises three industrial buildings totaling 1,953,620 square feet, located at 2501, 2701 & 2801 South Airfield Drive in the Irving market. The properties are developed on the airport’s ground lease and are capable of accommodating Foreign Trade Zone operations.

Summary of transaction details:

The financing for the transaction was arranged by the JLL Capital Markets team, led by Senior Managing Director Campbell Roche, who was assisted by Lauren Dow, Kristi Leonard, Ryan Pollack, and Campbell Swango. This team successfully secured the loan to support the final properties developed in this significant industrial park project.

Players

Ryan Pollack
4 deals$1.8B volume
BROKER

Kristi Leonard
JLL
3 deals$353.6M volume
BROKER

Campbell Roche
JLL
5 deals$210.1M volume(469) 221-7770
BROKER

Lauren Dow
JLL
1 deal$115M volume(469) 232-1950
BROKER

Campbell Swango
JLL
1 deal$115M volume
BROKER

Details

FINANCED
IMAGE: Campbell Roche, Kristi Leonard, Lauren Dow, Ryan Pollack & Campbell Swango DATE: 10/03/2024 ADDRESS: 2501, 2701 & 2801 South Airfield Drive MARKET: Irving ASSET TYPE: Industrial ~ SF: 1,953,620 LENDER: Barings LANDLORD: Goldman Sachs Alternatives & CLX Ventures BROKERS: Campbell Roche, Kristi Leonard, Lauren Dow, Ryan Pollack (@RyanPollack) & Campbell Swango (@Campbell_Swango) - JLL (@JLL) LOAN AMOUNT: $115,000,000 LOAN TERMS: floating rate NOTE: JLL Capital Markets secured a $115 million loan for the DFW Commerce Center Phases II and III, a 2 million-square-foot, three-building industrial park located at Dallas-Fort Worth International Airport. The financing team, led by Senior Managing Director Campbell Roche, along with Lauren Dow, Kristi Leonard, Ryan Pollack, and Campbell Swango, arranged the floating-rate loan for Goldman Sachs Alternatives and CLX Ventures, supporting the last properties developed on the airport’s ground lease with Foreign Trade Zone capability.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$115,000,000.00

Monthly NOI$766,666.67
Monthly Debt Service$726,878.23
Change in Cash Flow$0.00
Refinance Proceeds$0.00