MIAMI — Adler Real Estate Partners has received a $212.8 million loan for the refinancing of an eight-property industrial portfolio spanning several states in the Southeast and Texas.
Together, the properties total 43 buildings and roughly 1.6 million square feet in Alabama, Florida, Maryland, North Carolina and Texas, located in markets including Austin, Dallas-Fort Worth, South Florida, Charlotte, Birmingham and the Baltimore-Washington corridor. The collection includes multi-tenant business parks and light industrial assets.
At the time of financing, the properties were leased to more than 115 tenants within 22 industries, including the medical and pharmaceutical, building services, manufacturing, technology, professional services, healthcare and logistics industries. The average tenant tenure across the portfolio is 10.5 years.
Melissa Rose, Michael DiCosimo, Jack Britton, Kate Rathman, Nicole Diaz and Magnus Kron of JLL Capital Markets secured the financing on behalf of the borrower. An undisclosed life insurance company provided the loan.
Based in Miami, Adler Real Estate Partners specializes in acquiring and operating multi-tenant light industrial properties throughout the United States.
This transaction marks the second major recapitalization for the company this year. In July, Adler secured a $343 million refinancing for a portfolio of light industrial assets, including $140 million in equity and $203 million in senior financing.
— Hayden Spiess