New York, NY JLL Capital Markets arranged a $132.3 million refinancing for a 22-property industrial outdoor storage portfolio located in nine states and totalling 230 acres.
JLL worked on behalf of the borrower, a joint venture between Criterion Group and Columbia Pacific Advisors, to secure the five-year, floating-rate loan through Axos Bank.
The sites average 10.5 acres each and are located in Northeast, Southeast, and Texas distribution markets.
The JLL Capital Markets debt advisory team was led by senior managing director Christopher Peck, managing director Peter Rotchford, and vice president Christopher Pratt.
Industrial outdoor storage sites are characterized as low coverage industrial sites that can be used for a range of industrial purposes, including fleet parking, heavy machinery/construction equipment storage, shipping container storage, and more.
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