Barings has provided a $244 million loan to refinance a portfolio of 10 warehouse and distribution facilities totaling 6.4 million square feet in Logistics Park Kansas City in Edgerton, Kan.
The portfolio is owned by a joint venture between an Ares Management Real Estate fund and NorthPoint Development. Developed between 2014 and 2017, the buildings feature concrete tilt-panel construction with an average 35-foot clear-height and 706 dock doors. The portfolio is currently 93 percent leased to a collection of premier tenants such as Amazon, Stanley Black & Decker, Sam’s Club, Assa Abloy, and Smart Warehousing.
“We are excited to continue our partnership with Ares and NorthPoint Development for the refinancing of these class A facilities in a strong industrial market,” said Steve Murray, managing director with Barings. “This opportunity is closely aligned with Barings’ real estate debt strategy, focused on investing in high-quality real estate in dynamic ma
