SkyREM Lands $170M for 2.5 MSF Industrial Portfolio
The properties are spread across the Northeast, Southeast and Midwest.
SkyREM has obtained $170 million in financing for 10 primarily industrial and warehouse distribution assets across seven states in the Northeast, Southeast and Midwest regions. JLL represented the borrower in securing a fixed-rate, five-year loan from Apollo affiliates.
The refinanced portfolio totals approximately 2.5 million square feet. The properties were 99 percent leased as of closing to 15 diverse tenants across various industries, including warehousing, technology, aerospace, manufacturing, government and logistics. The average tenant’s tenure is approximately eight years.
The JLL Debt Advisory team included Senior Managing Directors Peter Rotchford and Steven Binswanger, Executive Managing Director Riaz Cassum and Senior Director Lucas Borges.
SkyREM is a vertically integrated real estate investor, owner and developer with a diversified U.S. portfolio. In July, the firm bought an industrial property near Savannah, Ga., a recently built 647,496-square-foot distribution facility, from BlueScope Properties Group.
Nationwide, the industrial sector reached a stabilization phase in 2024. Only 330.7 million square feet were delivered last year through the end of November, according to a recent CommercialEdge report, signaling less development as demand for space cooled off. At the same time, higher borrowing costs made construction loans more expensive.
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