JLL Capital Markets led financing efforts for Capital Partners & Eagle Realty Group
News release
30 October 2023
$57.27M acquisition financing secured for eight-asset industrial portfolio in Minnesota
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MINNEAPOLIS, Oct. 30, 2023 – JLL Capital Markets announced today that it arranged the $57.27 million acquisition financing for an eight-building industrial portfolio totaling 941,564 square feet spread across Eagan, Brooklyn Center and Fridley, Minnesota.
JLL worked on behalf of the sponsors, a joint venture partnership between Capital Partners and Eagle Realty Group, to secure the five-year, 65% LTV, fixed-rate loan through a JLL correspondent life insurance company.
The portfolio boasts an overall occupancy of 98.5%, with only 14,250 square feet of vacant space. The diverse property mix offers 16- to 30-foot clear heights and a 23-tenant multi-tenant roster. The Minneapolis/St. Paul industrial market is comprised of 351 million square feet of rentable space and boasts an overall vacancy rate of 2.6%.
The JLL Capital Markets Debt Advisory team was led by Senior Director Bill Mork.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL’s newsroom.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 106,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.