JLL Capital Markets has arranged $170 million in financing for the SkyREM Industrial Portfolio, a 10-building collection of primarily industrial and warehouse distribution assets located across the Northeast, Southeast and Midwest regions of the United States.
JLL represented the borrower, SkyREM, to secure the fixed-rate, five-year loan from affiliates of Apollo.
Totaling approximately 2.5 million square feet, the portfolio is spread across highly sought-after markets located throughout seven states. The properties benefit from strong labor markets, low unemployment rates and positive population growth trends.
At closing, the properties were 99 percent leased to 15 diverse tenants across a variety of industries, including technology, manufacturing, warehousing, logistics, aerospace and government. Many tenants have long histories at the properties, ranging from one to more than 20 years, with an average tenure of approximately eight years.
