Xebec gets $200m senior credit facility for industrial acquisitions in the U.S.

HFF has arranged a $200 million credit facility for Xebec Industrial Trust, a sector-specific real estate investment entity exclusively focused on the acquisition and development of industrial properties consisting of fulfillment, warehouse and distribution centers (bulk logistics), light industrial and infill/last-mile properties located primarily in U.S. coastal and inland logistics markets.

HFF worked on behalf of Xebec, the asset manager of Xebec Industrial Trust, to arrange the five-year, floating-rate, revolving credit facility with a national bank.

The initial $50 million commitment will be used to acquire two assets: a newly developed, fully leased, 203,317-square-foot, class A industrial distribution center located in the Los Angeles–area community of Vernon, Calif., and a fully leased, 85,000-square-foot, class A industrial distribution center located in Ypsilanti, Mich.

Going forward, the facility gives Xebec Industrial Trust the flexibility to increase the facility amount by an additional $150 million to a maximum aggregate amount of $200 million. Xebec Industrial Trust seeks to provide institutional, family office and high-net-worth qualified investors with core-plus returns from stabilized, cash-flowing assets coupled with build-to-core strategies.

“Our strategy for Xebec Industrial Trust is to acquire assets from both our existing project-level development pipeline as well as through opportunities to acquire assets from third-parties at below replacement cost,” said Randy Kendrick, CEO and co-founder of Xebec. “We anticipate the Xebec Industrial Trust portfolio will scale significantly in the coming years as e-commerce warehousing demand and reshored manufacturing jobs drive tenant demand for modern industrial real estate.”