DALLAS--Working on behalf of JLL Income Property Trust to obtain a $17.72 million non-recourse loan, CBRE Capital Markets' Debt & Structured Finance has arranged financing for the DFW Corporate Drive Portfolio in Grapevine.
The ten-year, interest-only loan has a rate of 3.23 percent and was secured through one of CBRE's correspondent life companies.
“Strong sponsorship, state-of-the-art design specifications and outstanding market fundamentals are all reasons that the DFW Corporate Drive Portfolio garnered a lot of interest from the lending community and we were able to secure attractive financing for the borrower,” Matt Ballard, with CBRE Capital Markets' Debt & Structured Finance, told GlobeSt.com.
The DFW Corporate Drive Portfolio consists of two industrial warehouses totaling 643,429 square feet of rentable space. The buildings are 100 percent leased to a roster of tenants including Kay Chemical, Fleetpride and Harland Clarke. The assets are built to modern specifications and include ample parking. The portfolio is located in the DFW Airport submarket.
Greg Greene, Scott Lewis and Ballard with CBRE's Dallas office, originated and secured the financing on behalf of the borrower.
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