JLL closes second financing on behalf of partnership between Redfearn Capital and Angelo Gordon

MIAMI, Aug. 10, 2023 – JLL Capital Markets announced today that it has arranged $18.4 million in financing for the acquisition of two, fully occupied industrial assets located in Jacksonville and Naples, Florida. This financing follows a previous arrangement of $24.4 million in senior financing for a 344,532-square-foot portfolio comprising four properties among five buildings located in Clearwater, Orlando, Pompano Beach, Florida and Burlington, North Carolina, for the partnership.

JLL represented the partnership between Redfearn Capital and Angelo Gordon in both transactions, which has been active in industrial acquisitions throughout the Southeast as part of their programmatic venture, which has closed on 17 industrial assets to date.

The two industrial facilities in Jacksonville and Naples total 241,162 square feet and are fully leased to six tenants, including name-brand presence from Sherwin Williams and FedEx. The assets are well-located within their respective markets. The Jacksonville property features access to I-95 within 1.1 miles, which is the primary north-south artery in the State of Florida and serves the majority of the East Coast. The Naples asset features similarly strong access, with the nearest I-75 on ramp being 4.1 miles away and US-HWY just four minutes away, allowing for efficient north-south transit throughout the west coast of Florida, which is critical to accessing the dense local residency for this primarily consumer-facing tenancy.

The five-building portfolio is fully occupied by various longstanding manufacturing and distribution tenants. Several tenants have specialized buildouts across properties whose clear heights range from 19 to 24 feet. The specialized nature of this tenancy contributes to sustained occupancy and cashflow stability, alongside the supreme transit access that these properties feature. The Portfolio features access to various local thoroughfares and interstates including I-95, I-275, I-40 and SR-811 within 5 minutes or less.

The JLL Capital Markets Debt Advisory team was led by Managing Director Melissa Rose, Director Michael DiCosimo and Analyst Mateo Bolivar.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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