JLL Capital Markets announced that it has arranged a $455.7 million refinancing for an eight-property, 7.1 million-square-foot national distribution center portfolio leased to Family Dollar.
JLL worked on behalf of the borrower, 1959 RE Holdings, LLC, a Delaware limited liability company controlled and partially owned by affiliates of Brigade Capital Management and Macellum Capital Management, to secure the floating-rate refinancing with Wells Fargo as sole lead.
The portfolio consists of eight bulk distribution centers totaling 7,106,000 square feet and is 100 percent leased to Family Dollar under a long-term absolute triple-net master lease. Built between 1997 and 2013, the facilities range from 832,000 to 907,000 square feet and feature modern logistics specifications, including clear heights from 30 to 42 feet.
The portfolio benefits from broad geographic diversification and access to major transportation corridors. On average, each distribution center reach
