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WASHINGTON, D.C. — PRP has obtained a $291 million CMBS loan for the refinancing of a national logistics portfolio totaling more than 4.5 million square feet. Eastdil Secured arranged the single-asset single-borrower (SASB) loan through JP Morgan.
The portfolio spans five newly constructed buildings in the industrial markets of Houston; Greenville-Spartanburg, S.C.; St. Louis, Ill.; and Birmingham, Ala. The properties were fully leased at the time of financing including to tenants including a global online retailer, a home improvement company and power tool manufacturer, according to Washington, D.C.-based PRP.