JLL Secures $73.4M Loan for Five-Property Portfolio in South Florida
MIAMI — JLL Capital Markets has secured a $73.4 million refinancing loan for a five-property industrial portfolio totaling 713,481 square feet in Doral, Medley, Miami and Cooper City.
Greg Nalbandian, Jim Cadranell, Maxx Carney and Michael Lachs of JLL arranged the loan on behalf of the borrower, metro Philadelphia-based Seagis Property Group LP. An undisclosed correspondent life insurance company provided the 10-year, fixed-rate, interest-only loan.
The 12-building portfolio includes Class A and B properties located at 8305 NW 27th St. in Doral; 8150 NW 76th St. and 2101 NW 82nd St. in Medley; 3000 NW 125th St. in Miami; and the nine-building Cooper Commerce Center located at 2229-12260 SW 53rd St. and 12323 SW 55th St. in Cooper City. The portfolio was 99 percent leased at the time of the financing to 67 tenants. All the buildings feature efficient loading and clear heights ranging from 21 to 24 feet.