Cushman & Wakefield Arranges $220M Financing for 2.1M SF Industrial Portfolio – Connect CRE

Cushman & Wakefield facilitated a $220 million financing deal for Ares Industrial Real Estate Income Trust, Inc., backed by a 2.1 million square foot industrial portfolio in five states. The loan, underwritten by KKR Managed Insurance Accounts, was arranged by a Cushman & Wakefield team led by Rob Rubano, John Alascio, Alex Hernandez, Brian Share, Alex Lapidus, Joe Lieske, TJ Sullivan, Ernesto Sanchez and Jason Blankfein.

The portfolio includes nine industrial properties in California, Florida, Illinois, Nevada and Maryland ranging in size from 156,000 to 482,000 square feet. These properties are leased to 10 institutional-grade tenants and offer industrial amenities such as an average headroom of 31 feet, wide dock doors and office space.

“This is a high-quality, diversified industrial portfolio serving important logistics hubs and growth markets that we know well, making it an excellent fit for our long-term capital,” said Ian McConnell, director at KKR .