Jones Lang Lasalle Incorporated Arranged $252.5 Million in Financing for the Lower Terra Industrial Portfolio

Published: 2025-06-30 13:50:24 ET JLL

Published on 06/30/2025 at 13:50

Jones Lang LaSalle Incorporated announced that it has arranged $252.5 million in financing for the Lower Terra Industrial Portfolio, a collection of 21 light industrial, mission-critical properties totaling 3.64 million square feet across 17 markets in the United States.JLL represented the sponsor, Brennan Investment Group ("BIG") and Farallon Capital, to secure the floating-rate, five-year loan from affiliates of Apollo.Located across 13 states in the East, West, Central and Southeast regions, the portfolio benefits from strategic positioning in top-performing industrial markets. The portfolio's geographic diversity provides access to labor markets representing approximately 18% of the U.S. workforce. Further, the portfolio features strong tenant commitment with an average tenure of over 30 years, including several mission-critical facilities with heavy bolt-down investments and four headquarters locations.

The properties are 98% occupied by 16 diverse tenants spanning a broad array of industries representing the largest sectors of the U.S. economy. The portfolio also benefits from its exposure to the manufacturing sector, affording sponsorship the opportunity to capitalize on pent-up leasing demand as leases roll. As of First Quarter 2025, JLL observed new manufacturing leasing activity increase by 17.4% quarter-over-quarter.

The JLL Capital Markets Debt Advisory team was led by Senior Director Lucas Borges, Senior Managing Director Matthew Schoenfeldt and Associate Tara Hagerty.