Access to capital markets, construction, and leasing action proceeds in the face of international pandemic
Logistics Property Company, LLC (LPC), a commercial property platform centered on the acquisition, management and development of advanced logistics properties in major North American markets, has recently closed $187,195,652 in building loans despite innumerable challenges brought on by the unprecedented international pandemic throughout the year up to now.
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Logistics Property Co. Secures $187 million in Building Loans Through Unprecedented Year to Date (Graphic: Business Wire)
“We’re really delighted with the continuing strength of our debt system,” explained Katherine Bernstein, LPC’s Senior Vice President – Capital Markets, who joined the firm two weeks ahead of the City of Chicago and State of Illinois issued a compulsory work at home executive order for most non-essential providers.
“We’ve closed seven brand new structure loans—including four with fresh lenders—totaling $187 million from the year up to now,” Bernstein added. “We’re actively devoting funds throughout the nation and look forward to continuing to cultivate our debt system alongside our busy projected pipeline for the rest of 2020.”
Swift & Lake, Addison, Ill.
Structure loan Number: $20,100,000
Bank: Wells Fargo Bank, National Association
loan Closing Date: February 21, 2020
- Jeff Goodman in Wells Fargo Commercial Real Estate originated the loan.
- Swift & Lake contains two advanced Class A self explanatory logistics centers totaling 274,855 square feet.
- The playground is situated in the junction of Interstate 55 and Lake Street, 10 kilometers from Chicago O’Hare International Airport’s South Cargo Gate and 25 miles from the Chicago Loop. The 15-acre parcel dimensions combined with access to important infrastructure—Interstate 355, Interstate 290, Interstate 88, Interstate 90, Interstate 94 and Interstate 294—make this a superior place to function as north, south, west, along with City families and company.
LogiPark 57-80, Country Club Hills, Ill.
Structure loan Number: $43,500,000
Bank: JPMorgan Chase Bank, N.A.
Closing Date: March 18, 2020
- James Phillipp, Executive Director, Real Estate Banking – Central Region in JPMorgan Chase Bank, N.A., originated the loan.
- LogiPark 57-80 contains three advanced Class A speculative logistics centers totaling 1. ) 2 million square feet.
- The playground is situated in the southeast corner of Interstate 57 and Cicero Avenue in Country Club Hills. It may accommodate users ranging from 50,000 – 810,000 square feet with instant access to Interstate 57 and Interstate 80, which can be just two of the very underrated interstates from the Greater Chicago area.
HITC Logistics Park, Humble, Texas
Structure loan Number: $16,946,000
Bank: Comerica Bank
loan Closing Date: March 19, 2020
- Chris Young, Vice President, National Real Estate Services in Comerica Bank, originated LPC’s earliest loan together with the establishment.
- Stage I of Houston Intercontinental Trade Center (“HITC”) Logistics Park consists of three advanced Class A speculative logistics centers at greater 704,000 square feet. Two buildings at roughly 435,000 square feet in Stage I are now under construction with a scheduled completion date of February 2021.
- The playground is situated inside Houston’s recognized North submarket, less than 1 mile from the east flank of George Bush Intercontinental Airport, in the general area of Interstate 69 and Beltway 8 – 2 highly trafficked thoroughfares linking Houston suburbs into the larger Houston metroplex.
Frederickson ONE, Building 2, Frederickson, Wash.
Structure loan Number: $29,006,027
Bank: Barrington Bank & Trust Company, N.A.
Final Date: April 13, 2020
- Nick Howard, Senior Vice President, Wintrust Commercial Real Estate (a subsidiary of Barrington Bank & Trust Company, N.A.), originated the loan.
- Frederickson ONE, Construction two is a state-of-the-art Class A build-to-suit logistics centre for the world’s biggest hardware retail combined, and also the biggest non-grocery American retail joint.
- It includes over 522,000 square feet and forms part of a Class A industrial park totaling 2.9 million square feet in one of the fastest growing industrial regions in the South Puget Sound market.
I-80-380 Logistics Center, Mount Pocono, Pa.
Bank: First National Bank of Pennsylvania, a national banking association
Closed: May 18, 2020
- Gregory Dreibelbis, Senior Vice President/Regional Manager, Investment Real Estate, along with Colby Windholz, Vice President, Investment Real Estate in First National Bank originated LPC’s earliest loan together with First National of Pennsylvania because of its first job in Pa.
- I-80-380 Logistics Center includes one insecure state-of-the-art Class A supply centre at approximately 750,000 square feet.
- Situated 90 km northwest of Manhattan, the 62.5-acre site is within a day’s drive to 40 percentage of the US populace and 50 percentage of the Canadian population; also boasts impressive access to skilled labour. Additionally, it gives simpler access to New York City versus rival submarkets Lehigh Valley and Harrisburg.
Oakwood 985 Industry Park, Oakwood, Ga.
Structure loan Number: $16,400,000
Bank: Pinnacle Bank
loan Final Date: June 11, 2020
- Tyler Muesch, Commercial Real Estate Manager, Pinnacle Bank, originated LPC’s earliest loan with Pinnacle Bank because of the first job in Ga.
- Oakwood 985 Company Park will include two insecure state-of-the-art Class A supply centers totaling 424,000 square feet—divisible to match 37,400 into 249,645 square feet—at a shallow bay arrangement, which can be an underserved product section.
- The website can be found at the highly desired Hall County, just south of Gainesville with impressive accessibility to residential, skilled labour and end customers.
Southport Logistics Park, Building 3, Wilmer, Texas
Structure loan Number: $33,252,379
Bank: Veritex Bank
loan Final Date: July 24, 2020
- Peyton Jones, Executive Vice President – Managing Director, Commercial Real Estate in Veritex Bank originated LPC’s earliest loan together with Veritex Bank.
- Southport Logistics Park, Building 3 (Southport 3) includes one insecure state-of-the-art Class A supply centre totaling over 1 million square feet—expandable to 1.2 million square feet. At complete build-out, Southport Logistics Park will house over 3.7 million square feet of Class A industrial area. It’s strategically situated inside a 252-acre master-planned logistics destination at the South Dallas submarket of the DFW metroplex, positioned right together Interstate 45 and across from the Union Pacific Intermodal lawn.
- 2020 continued into attract new tenants to the South Dallas submarket, because the general DFW population increased because of corporate company relocations. Southport 3 is positioned to benefit from the gain in e-commerce demand together with the deficiency of 1 million square foot rivalry on the industry.
along with LPC’s continued access to capital markets, the company’s solid construction and leasing activities also have continued at the face of the worldwide pandemic. This is largely because of the diligence, experience, and value-incorporating strategies utilized by LPC’s onsite and off-site employees; its experienced leadership group, which boasts an average of over 25 years’ expertise; and its own deep-rooted regional and national associations.
In LPC, wellness, safety and environmental (HSE) compliance and risk reduction are basic elements of each action. Included in their company’s commitment to safeguard employee health, safety and the environment, LPC demands that work—conducted by its own employees and its partners—comply with applicable Federal, State, County, City, workplace, worksite, and company protocols.
About Logistics Property Co.
Logistics Property Company, LLC (LPC) is a commercial property platform centered on the acquisition, management and development of advanced logistics properties in major North American markets. The management group of LPC partnered with MIRA Real Estate – a part of Macquarie Infrastructure and Real Assets (MIRA) – about the creation of this platform. LPC now manages properties in crucial logistics markets such as Atlanta, Chicago, Dallas, Houston, Kenosha, Mount Pocono and Seattle-Tacoma having an estimated ending -value of over $1. )5 billion. Headquartered in Chicago, LPC has offices in Atlanta, Dallas, Houston, Indianapolis, Los Angeles and Seattle. For additional info, please see logisticspropco.com and follow @logisticspropco.
Chief Marketing Officer, Logistics Property Co.
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