Jones Lang LaSalle Inc.
04/03/2025 | Press release | Distributed by Public on 04/03/2025 03:12
$99M financing secured for Arden Industrial Portfolio
NEW YORK CITY, Apr. 3, 2025 - JLL Capital Markets announced today it has arranged a $99.1 million refinancing for five multi-tenant industrial parks located across multiple states.
JLL represented the borrower, Arden Logistics Parks, in securing a floating rate loan through an Ares Management Real Estate fund.
The portfolio spans over 765,000 square feet across 11 buildings in prime, high-barrier-to-entry markets. The properties feature a mix of industrial assets, including multi-tenant shallow bay buildings and a single-tenant industrial service facility. The properties offer clear heights ranging from 14 to 24 feet, a combination of dock-high and drive-in loading positions and ample parking.
Arden acquired the properties in separate transactions from 2023 through 2024 and implemented various capital improvements and re-leasing strategies to increase occupancy and net operating income during its ownership. The portfolio is currently 94.4% leased to a diverse mix of 92 tenants spanning various industries such as healthcare manufacturing, technology, automotive and professional services. Additionally, many of the assets are strategically located near major transportation hubs, including international airports and key interstate highways, providing excellent access for last-mile distribution and regional logistics operations.
The JLL Capital Markets Debt Advisory team was led by Managing Directors Lauren Kaufman and Geoff Goldstein and Senior Director Jillian Mariutti.
"With vacancy rates well below national averages and limited new supply in the pipeline, we're seeing sustained demand for infill, last-mile distribution facilities," said Kaufman.
"The portfolio's 10.5% mark-to-market opportunity on in-place rents, coupled with Arden's value-add strategy, positions these assets to capture the continued rent growth we're observing across these supply-constrained submarkets," added Goldstein.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL's newsroom.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 112,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Arden Logistics Parks
Established by Arden Group as a best-in-class logistics real estate operating platform, Arden Logistics Parks (ALP) specializes in the acquisition, improvement and property management of light industrial business parks and industrial services facilities. ALP has 60 professionals, a portfolio of 11M square feet across 15 markets in the U.S. and in 2023 and 2024, was named Best Places to Work in PA by Central Penn Business Journal and Lehigh Valley Business. For more information, please visit https://www.ardenlogisticsparks.com.
About Arden Group
Arden Group is a vertically integrated middle market private real estate fund manager with a primary focus on the industrial, residential, hotels and prop-tech sectors. Founded in 1989 by current Chairman & CEO, Craig A. Spencer, Arden has acquired over $8.0 billion of real estate properties and managed $13.0 billion of commercial real estate assets. Arden Logistics Parks is a fully integrated industrial operating platform, with 65 professionals and a portfolio of 11M square feet across 15 markets in the U.S. Arden Living is a vertically integrated multifamily and student housing platform, which currently has a portfolio that spans over 1,850 multifamily units and over 1,300 student housing beds across 8 markets in the U.S.