NEW YORK, NY – Real estate investment manager Clarion Partners LLC has provided a $415 million mezzanine loan as part of a package, to refinance a portion of Blackstone's Cubic/Colony industrial portfolio, which totals 110 properties.
The logisticis portfolio comprises 15.7 million square feet across 15 markets. The properties are primarily located in the Dallas-Fort Worth, Phoenix, AZ, Baltimore, MD and Atlanta, GA markets.
The portfolio is more than 93% leased to more than 300 unique local, regional and national tenants.
"Clarion Partners' deep expertise in the logistics sector combined with our debt team's longstanding focus on mezzanine financing positioned us to facilitate the transaction's compressed time frame," says Drew Fung, managing director at Clarion Partners. "Clarion Partners is pleased to provide financing on this impressive portfolio of logistics properties."
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