JLL Capital Markets arranges $22M refinancing of eight-property industrial outdoor storage (IOS) portfolio in Virginia and North Carolina

MORRISTOWN, N.J., Oct. 23, 2025 –  JLL Capital Markets announced today that it has arranged a $22.24 million refinancing for the Rampart Mid Atlantic Portfolio, a collection of eight stabilized low coverage industrial properties totalling 98,394 square feet on 27.36 usable acres in Virginia and North Carolina.

JLL worked on behalf of the borrower, Hoboken, New Jersey-based Rampart Real Estate Partners, to secure the fixed rate, permanent financing through a regional bank.

The portfolio is strategically positioned across three dynamic metropolitan markets —Richmond and Norfolk, Virginia, and Charlotte, North Carolina — providing tenants with access to major transportation networks, growing population centers and robust local economies. The properties feature a diverse mix of high-quality improvements with an average building size of approximately 12,000 square feet and a low 8.3% lot coverage ratio, maximizing valuable outdoor storage space.

The portfolio serves national and regional industry leaders primarily in industrial and commercial services, including equipment rental, transportation, landscaping and specialized product manufacturing/distribution.

The Richmond market benefits from its strategic position along I-95 and I-64, providing seamless connectivity throughout the Eastern Seaboard. The Norfolk region leverages its world-class port facilities and extensive maritime infrastructure, while Charlotte continues to establish itself as a premier industrial growth market in the Southeast with strong population and employment gains.

"We are grateful to the JLL team for their partnership in sourcing the debt and driving the loan across the finish line," said Ryan Gofus, Co‑Founder of Rampart Real Estate Partners. "This partial‑portfolio refinance of our earliest IOS assets underscores the value we’ve created for our investors over several years of sourcing, leasing and development work. My partner, Billy McAloon, and I owe a special thanks to our teammates Drew Ballard and Ben Rice, who, along with our broker partners, helped to source and execute these individual acquisitions. We also appreciate the dedication and expertise of our colleague Jon Hagerman, who leads our redevelopment and development efforts and ensures that our tenants receive high-quality spaces that enable their long-term success."

The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Director Max Custer, Senior Managing Director Michael Klein and Senior Director Reina Abboud, along with Analysts Michael Donohoe and Jude Carlon.

"Rampart has demonstrated outstanding performance in the execution of its value-add strategy for this eight-property portfolio,” said Custer. "This successful refinancing is a direct testament to the team’s strategic vision and their proven ability to create substantial value for their investors."

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.

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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 $23.4 billion and operations in over 80 countries around the world, our more than 112,000 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 WAY^SM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

Rampart Real Estate Partners is a veteran owned and operated real estate investment and property management firm that specializes in acquiring, repositioning, and managing industrial properties.