A joint venture between Criterion Group and Columbia Pacific has received a $132.3 million refinancing for a 22-property industrial outdoor storage portfolio located in nine states and totaling 230 acres.
JLL Capital Markets worked on behalf of the borrower to secure the five-year, floating-rate loan through Axos Bank.
The sites average approximately 10.5 acres each and are located in prime Northeast, Southeast and Texas distribution markets. 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.
