JLL Arranges $193M Refinancing for Industrial Portfolio in Sun Belt, Mid-Atlantic

by John Nelson

MIAMI — JLL has arranged a $193 million permanent loan for the refinancing of a nine-property industrial portfolio totaling 1.7 million square feet. The properties are located on infill sites in South Florida, Texas, North Carolina, Alabama and Maryland. Chris Drew, Melissa Rose and Christopher Gathman of JLL arranged the five-year, fixed-rate, non-recourse loan through TIAA Bank on behalf of the borrower, Adler Real Estate Partners.

The assets were constructed between 1981 and 2001 and were leased to 145 separate tenants at the time of financing. The properties included:

• Riverchase Center in Hoover, Ala.
• 1001 Broken Sound Parkway in Boca Raton, Fla.
• Prospect Park I & II in Fort Lauderdale, Fla.
• Delray North Business Center in Delray Beach, Fla.
• Rivers Business Park I & II in Columbia, Md.
• South Point Business Park in Charlotte, N.C.
• Parkwest I & II in Raleigh, N.C.
• Addison Tech Center in Addison, Texas
• Kramer 1-5 at Braker Center in Austin, Texas

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