MDH Partners Lands $84M in Post-Acquisition Financing
- Nov 12, 2020
MDH Partners has received $84.3 million in post-acquisition financing for a six-property industrial portfolio, totaling nearly 1.6 million square feet. JLL secured the five-year, floating-rate loan from Wells Fargo.
MDH purchased the assets in separate transactions throughout the year. The portfolio’s tenant roster includes more than 30 local, regional and national tenants and has a 12-month net absorption.
The multiple-state portfolio comprises a 425,300-square foot warehouse located at 5300 Kennedy Road in Atlanta, a 100,453-square-foot facility situated at 1350 NW 74th St. in Miami and a 50,000-squre-foot manufacturing property located at 4565 W. Watkins St. in Phoenix. The other three assets are situated at 3115-3165 Lakewood Ranch Blvd. in Bradenton, Fla.; 404, 420 A&B N. Chimney Road. in Greensboro, N.C.; and 3527-3539 and 3543 Lamar Ave. in Memphis, Tenn.
The JLL team included Senior Managing Director Christopher Drew, Director Maxx Carney and Associate Reid Carleton, along with Senior Managing Director Ed Coco and Director Carl Beardsley.
In August, Beardsley secured a fixed-rate, $11.8 million acquisition and development loan on behalf of Arizona Custom Blends. The borrower acquired a 141,000-square-foot industrial property in Tempe, Ariz.