Centerbridge Partners and Henderson Group have received $208.5 million in debt financing to recapitalise 40 industrial properties in Pennsylvania and South Florida. This was confirmed by Commercial Observer after J.P. Morgan Chase provided the loan. The transaction concerns a comprehensive portfolio of logistics properties, encompassing strategically important locations.
J.P. Morgan Chase provided the sponsor consortium with a five-year, floating-rate loan. This loan serves to finance a logistics portfolio totalling 2.3 million square feet. The properties include a diverse mix of last-mile warehouses, distribution centres, and shallow-bay facilities, covering the requirements of modern supply chains.
Portfolio details and market relevance
The properties in question comprise buildings ranging in size from 16,000 to 155,000 square feet. The portfolio is 95 per cent leased to 110 tenants, indicating stable occupancy and strong demand in these markets. The high occupancy rate underscores the attractiveness and operational strength of the industrial facilities in these regions.
CBRE acted as advisor in this transaction and negotiated the debt financing. The CBRE team consisted of Tom Traynor, Tom Rugg, Mark Finan, and Henry Fenmore. These experts were instrumental in structuring and successfully completing the financing. Their expertise contributed significantly to securing optimal terms for the joint venture.
Parties involved and comments
Requests to J.P. Morgan, Centerbridge, and Henderson Group regarding the transaction initially went unanswered. CBRE declined to comment. This is common in such financing and recapitalisation deals, as parties often maintain confidentiality.
- —J.P. Morgan Chase acted as the lender.
- —Centerbridge Partners and Henderson Group are the sponsors of the joint venture.
- —The portfolio comprises 40 industrial properties in key regions.
- —CBRE acted as the debt broker.
