JLL Capital Markets announced that it has arranged $101.8 million in financing on behalf of SkyREM LLC for a four-property industrial portfolio totaling approximately 1.9 million square feet across the East Coast and Mid-Atlantic.
CIBC provided the non-recourse financing. The loan carries an initial three-year term with two one-year extension options.
“This financing reflects the strength of the portfolio and gives us additional flexibility to continue investing in well-located industrial assets where we see compelling long-term value,” said Alexander Dembitzer of SkyREM. “We appreciate JLL’s execution and CIBC’s confidence in SkyREM and our investment strategy.”
“We are pleased to close this financing for SkyREM,” said Max Gentile, managing director, U.S. commercial real estate at CIBC. “This transaction reflects our relationship-focused approach and ability to provide tailored financial solutions that support the company’s strategic and financial objectives. We look forward to supporting Alex and the SkyREM team as they continue to execute on their vision.”
The portfolio totals 1,916,451 square feet and is 100% occupied by six tenants with a weighted average lease term of more than six years. The properties serve a range of warehousing, manufacturing and e-commerce uses and provide SkyREM with a geographically diversified portfolio of income-producing industrial assets.
JLL’s Debt Advisory team was led by Senior Managing Directors Peter Rotchford and Steven Binswanger, along with Managing Director Lucas Borges.
