BOSTON – JLL Capital Markets announced that it has secured $27.3 million in financing for a two-building industrial portfolio spanning over 315,000 square feet in Central Massachusetts and Greater Hartford, Connecticut.
JLL represented NorthBridge Partners and arranged non-recourse acquisition financing through a national life insurance company.
The portfolio consists of two recently developed, mission-critical industrial facilities leased to a global ecommerce conglomerate and an advanced manufacturing company that primarily services the pharmaceutical and biotechnology industries. Both properties feature long-term leases, Class A construction and offer premier logistical connectivity for distribution and supply chain requirements.
The JLL Capital Markets Debt Advisory team was led by Managing Director Andrew Gray and Director Ryan Parker.
Gray commented, “We witnessed strong interest from national life insurance, regional banks and alternative capital providers in financing the portfolio of state-of-the-art industrial properties, which are mission critical to the tenant’s operations.”
“The level of interest in the portfolio is a testament to Northbridge’s brand name and ability to acquire high quality logistics and distribution facilities below replacement cost,” Parker added.
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