JLL Capital Markets secured the loan from Nationwide in this transaction
News release
16 April 2024
Financing secured for nine industrial warehouse properties in the south Florida market
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MORRISTOWN, NJ, Apr. 16, 2024 – JLL Capital Markets announced today that it arranged $100,000,000 financing for nine industrial warehouse properties encompassing 824,546 square feet in the south Florida market. The loan is interest-only for the full seven-year term.
JLL represented the borrower, Seagis Property Group LP, and secured the loan from Nationwide.
The portfolio is 99 percent occupied and is in some of the most demanded industrial submarkets in the South Florida Industrial Market. The properties are located at the following addresses:
- Lakeway Corporate Center – 5800, 5810, 5850 & 5900 Miami Lakes Dr.
- 3450 NW 115TH Ave.
- Commerce Park – 3100 NW 74th Ave.
- Miami Gardens Industrial Center – 150 NW 176th St.
- Deerwood Commerce Center – 11921 SW 144th St. and 14250, 14301, 14377 SW 119th Ave.
- Flamingo Park of Commerce – 12064, 11092-11926 and 11824-11846, 12004, 9600, 12006, 11930 Miramar Pkwy.
- University Park of Commerce – 6535, 6555, 6545 Nova Dr.
The JLL Capital Markets team was led by Senior Managing Directors Jim Cadranell and Gregory Nalbandian, Vice President Michael Lachs, and Associate Jimmy Calvo.
“In a challenging capital markets environment Nationwide provided an extremely competitive loan for Seagis on their well-performing industrial assets. It was a pleasure to again work with both borrower and lender on this transaction,” stated Cadranell.
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.