JLL Capital Markets has secured $32.75 million in financing for an industrial portfolio that includes nine properties in North Jersey and South Florida, it announced this week.
The permanent financing covers properties that total 410,000 square feet and are owned by Seagis Property Group LP. The financing was secured through Nuveen Real Estate. Properties are located in Secaucus/North Bergen and Carteret/Avenel in New Jersey, as well as Miami-Dade County in Florida.
The buildings involved are smaller industrial properties, JLL said, each less than 100,000 square feet, but the portfolio is 100% leased to 18 diverse tenants.
The team representing the borrower was led by Jim Cadranell and Gregory Nalbandian, senior managing directors; and Maxx Carney, director.
“It was a great pleasure to work with both Seagis and Nuveen Real Estate to structure this attractive-rate, full-term, interest-only financing in the midst of the ongoing pandemic,” Cadranell said in a prepared statement.