JLL arranges $455.7MM financing for Family Dollar's national distribution center portfolio

• JLL Capital Markets arranged the $455.7 million refinancing of existing loans for Family Dollar’s eight-property distribution center portfolio spanning 7.1 million square feet across eight states.

• Brigade and Macellum secured the financing to support the company's ongoing operational transformation and enterprise-wide value-creation program following its acquisition of Family Dollar in July 2025.

• The mission-critical distribution network serves approximately 7,100 Family Dollar retail stores nationwide.

NEW YORK CITY, Sept. 23, 2026 – JLL Capital Markets announced today that it has arranged a $455.7 million refinancing for an eight-property, 7.1 million-square-foot national distribution center portfolio leased to Family Dollar.

JLL worked on behalf of the borrower, 1959 RE Holdings, LLC, a Delaware limited liability company, which is controlled and partially owned by affiliates of Brigade Capital Management, LP (“Brigade”) and Macellum Capital Management LLC (“Macellum”), to secure the floating rate refinancing through sole lead Wells Fargo.

The portfolio consists of eight bulk distribution centers totaling 7,106,000 square feet and is 100% leased to Family Dollar under a long-term absolute triple-net master lease. Built between 1997 and 2013, the facilities range in size from 832,000 to 907,000 square feet and feature modern logistics specifications, including clear heights ranging from 30 feet to 42 feet.

The portfolio benefits from extensive geographic diversification and access to major transportation corridors that enable efficient product distribution across a broad consumer base. On average, each distribution center reaches more than 123 million people within a 12-hour drive. The facilities feature substantial truck courts, extensive shipping and receiving door counts and modern warehouse configurations designed to support high-volume inventory management and distribution operations. Family Dollar has maintained operations at the properties for an average of 22.2 years, underscoring the assets' longstanding importance to the company's supply chain platform.

The JLL Capital Markets team was led by Senior Managing Director Christopher Peck, and Directors Christopher Pratt and Alex Staikos.

"The transaction attracted significant lender interest because it sits at the intersection of a successful private-equity led turnaround of a longstanding, recession-proof operating business and mission-critical industrial real estate at an attractive basis," said Peck. "This financing underscores the liquidity in secured commercial real estate lending, offering private-equity-owned companies an attractive alternative way to raise capital."

JLL’s Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. The group has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 112,000 as of June 30, 2026. For over 200 years, clients have trusted JLL, a Fortune 500^® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. 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. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.

Brigade Capital Management, LP (“Brigade“) is a global asset management firm founded in 2006 with over $32 billion in assets under management. Brigade invests in public and private credit instruments using a bottom-up investment philosophy across a variety of diversified funds. As an SEC-registered investment advisor, Brigade is one of the largest independent alternative asset managers with a 50-person investment team. Founded by Donald E. Morgan III (CIO and Managing Partner), Brigade is headquartered in New York with a global footprint that includes an office in London.

Macellum Capital Management LLC (“Macellum”) is an investment firm founded in 2009 that invests in undervalued companies that it believes can appreciate significantly in value through changes in strategy, capital allocation and improvements in operations. The firm has substantial experience investing in consumer and retail companies. Macellum’s investment team and advisors work collaboratively with companies and draw upon their extensive strategic and operating experience to assist companies in designing and implementing initiatives to improve long-term performance.

Family Dollar operates thousands of neighborhood stores across the United States, providing customers with a broad assortment of everyday essentials at great value. The company serves millions of customers each week and is committed to delivering convenience, affordability, and exceptional service in communities across the country.