JLL arranges $65.4M financing for Class A industrial facility in Northern New Jersey

NEW YORK CITY, Oct. 6, 2025 – JLL Capital Markets announced today it has secured $65.4 million in financing for Passaic Logistics Center, a 295,506-square-foot Class A industrial facility located at 122 8th St. in Passaic, New Jersey.

JLL represented the borrower, which is a joint venture between PCCP, LLC and Stonemont Financial Group, to secure a bridge loan through TPG Real Estate Credit.

The state-of-the-art logistics facility was completed in the fourth quarter of 2024 and features 40-foot clear heights, 40 dock-high doors, 55 trailer stalls, 167 car parking spaces and a 130-foot truck court. The property sits on a 17.7-acre site and was designed with the flexibility to accommodate single or multiple tenants during lease-up.

Passaic Logistics Center benefits from an exceptional location just seven miles from the New Jersey Turnpike and 12 miles from New York City, providing seamless access to major regional transportation arteries, including Interstate 78 and Interstate 80. The facility is strategically positioned in the coveted Meadowlands submarket, enabling same-day or next-day delivery capabilities to all major metropolitan areas across Northern New Jersey, New York City and Long Island.

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.

Stonemont Financial Group specializes in investing across a broad spectrum of real estate asset classes and geographies, specializing in industrial, net lease, and healthcare real estate to deliver attractive risk-adjusted returns. Stonemont offers diversified and differentiated real estate investment strategies and vehicles to institutions, family offices, trusts and high net-worth individuals. With a combined track record of over 60 years of experience and $20 billion invested, Stonemont’s founders and managing principals are committed to delivering attractive risk adjusted returns. Learn more about Stonemont at https://stonemontfinancial.com/. 

TPG is a leading global alternative asset management firm, founded in San Francisco in 1992, with $261 billion of assets under management and investment and operational teams around the world. TPG invests across a broadly diversified set of strategies, including private equity, impact, credit, real estate, and market solutions, and our unique strategy is driven by collaboration, innovation, and inclusion. Our teams combine deep product and sector experience with broad capabilities and expertise to develop differentiated insights and add value for our fund investors, portfolio companies, management teams, and communities. Learn more about TPG at https://www.tpg.com/