Faropoint, a technology-enabled real estate investment manager specializing in last-mile industrial properties, has closed a $325 million refinancing with Capital One, National Association and Citizens Bank for a portfolio of industrial properties within its Logistics Fund II. The nonrecourse, floating-rate loan carries a one-year initial term with four one-year extension options, providing the fund with flexibility to align financing duration with its broader portfolio strategy.
The portfolio comprises 62 industrial buildings totaling 3.3 million square feet across nine U.S. markets, with concentrations in Atlanta, Chicago, Dallas, Northern New Jersey/New York and the Philadelphia/Southern New Jersey corridor, and additional assets in Cincinnati; Columbus, Ohio; Jacksonville, Fla.; and Tampa Bay, Fla. The properties are leased to more than 75 tenants with a weighted average lease term of 2.9 years and 90 percent weighted average occupancy.
The transaction extends Faro
