$32.2M in financing secured for shallow bay industrial portfolio in Miami, FL
JLL Capital Markets arranged the financing for the 210K SF Aventura Small Bay Portfolio
MIAMI, Oct. 3, 2024 – JLL Capital Markets announced today it secured the $32.2 million financing for Aventura Small Bay Portfolio, a 210,219-square-foot shallow bay industrial portfolio in Miami, Florida.
JLL worked on behalf of the East Capital Partners to secure the floating-rate, three-year loan for the acquisition of the asset.
The portfolio consists of seven last-mile buildings situated on 11 acres, boasting a 100% occupancy rate with 41 active tenants.
Located at 19501 NE 10th Ave., adjacent to I-95 (the main north-south artery in South Florida), the property benefits from exceptional accessibility, visibility and connectivity. This strategic location provides convenient access to the robust labor and consumer markets of both Miami and Fort Lauderdale, enhancing the portfolio's appeal and potential.
The JLL Debt Placement was led by Senior Managing Director Melissa Rose and Analyst Jovi Rodriguez.
“This transaction highlights strong demand for well-positioned, income-generating small bay properties offered below replacement value. The quality of the sponsorship, coupled with the asset's potential for increased NOI, created intense competition on the debt financing,” Rose said.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL’s newsroom.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 110,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About East Capital Group
East Capital Partners (“EAST”), co-founded by David Archibald and Drew DeWitt, is a real estate investment and development firm focused on thematic investments in high-quality assets, seeking outsized growth potential driven by economic and demographic trends. The Sponsor is primarily invested in institutional real estate in the Eastern United States on behalf of their account, pension funds, and other leading institutions and individuals. To date, the principals of EAST have invested $7.4B over 135 transactions across various asset classes, including industrial, cold storage, life sciences, office, residential and retail.
For more information, visit our website www.eastcp.com.