JLL Capital Markets led the financing efforts for a nine-asset portfolio located across California, Florida, Georgia and Texas
News release
03 February 2025
$142.18M financing arranged for a fully leased 2.2M SF industrial and office portfolio
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PHOENIX, Feb. 3, 2025 – JLL Capital Markets announced today it has arranged $142.18 million in financing for a fully leased, 2.16-million-square-foot industrial portfolio spanning California, Florida, Georgia and Texas. The portfolio also included a 46,182-square-foot office property located in Irvine, California.
JLL worked on behalf of the borrower, Bixby Capital Management, to secure the 10-year, fixed-rate loan through PGIM Real Estate.
The portfolio comprises eight Class A well-located, warehouse and distribution facilities in highly desirable industrial markets. With an average vintage of 2014, the facilities feature clear heights ranging from 28 to 36 feet, ample dock doors and strategic positioning near key logistics hubs such as the ports of Los Angeles, Long Beach, Houston and Savannah, as well as Hartsfield-Jackson Atlanta International Airport. Additionally, the industrial properties are 100% leased to 13 tenants across a variety of industries, including third-party logistics, home improvement and consumer goods.
The JLL Debt Advisory team was led by Capital Markets President Kevin MacKenzie, Senior Managing Director and Industrial Co-Lead Brian Torp and Director Spencer Seibring.
“This financing exemplifies the positive momentum we experienced in the latter half of 2024 that is carrying over into 2025,” said MacKenzie. “Bixby was collaborative and highly strategic in the approach, entering the market during a period of positive sentiment at the end of summer and getting to a rate lock in October.”
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.
Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.
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 111,000 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.
About Bixby Capital Management
Bixby Capital Management is a leading commercial real estate owner, operator, and investment manager with over $1.6 billion of assets under management. The company develops and invests in industrial, office, and R&D properties throughout the United States. For over 125 years, Bixby Capital Management has been committed to adding value for its shareholders and investors. To learn more, visit www.bixbyland.com.