JLL’s Capital Markets Group arranged $252.5 million in financing for the Lower Terra Industrial Portfolio, a collection of 21 light industrial, mission-critical properties totaling 3.64 million square feet across 17 markets in the United States.
JLL represented the sponsor, Brennan Investment Group and Farallon Capital, to secure the floating-rate, five-year loan from affiliates of Apollo.
Located across 13 states in the East, West, Central and Southeast regions, the portfolio benefits from strategic positioning in top-performing industrial markets. The portfolio’s geographic diversity provides access to labor markets representing approximately 18% of the U.S. workforce. Further, the portfolio features strong tenant commitment with an average tenure of over 30 years, including several mission-critical facilities with heavy bolt-down investments and four headquarters locations.
The properties are 98% occupied by 16 diverse tenants. The portfolio also benefits from its exposure to the manufacturing sector, affording sponsorship the opportunity to capitalize on pent-up leasing demand as leases roll. As of Q1 2025, JLL observed new manufacturing leasing activity increase by 17.4% quarter-over-quarter.
The JLL Capital Markets Debt Advisory team was led by Senior Director Lucas Borges, Senior Managing Director Matthew Schoenfeldt and Associate Tara Hagerty.
“This portfolio represented an exceptional opportunity to finance well-maintained, mission-critical industrial facilities with an institutional sponsorship group that brings unrivalled sector expertise,” Borges said. “The combination of the portfolio’s geographic diversity, long-term tenant base and strategic positioning in markets with strong industrial fundamentals made this an attractive investment opportunity in today’s capital markets environment.”
