Home Finance EverWest Real Estate Investors Secures $61.34MM in Financing for 428,000 SQFT Industrial...

EverWest Real Estate Investors Secures $61.34MM in Financing for 428,000 SQFT Industrial Portfolio that Includes Seattle Property

JLL, EverWest Real Estate Investors, J.P. Morgan Global Alternatives, Denver, Seattle, Nashville, Maspeth, New York City, Charlotte, Los Angeles, San Francisco, Austin, Sagard, Puget Sound

JLL Capital Markets secures financing from J.P. Morgan for the portfolio, located in Colorado, New York, Tennessee and Washington

DENVER, Sept. 18, 2023 –  JLL Capital Markets announced today that it arranged $61,340,000 in financing for a four-property industrial portfolio totalling 428,488 square feet in Colorado, New York, Tennessee and Washington.

JLL represented the borrower, EverWest Real Estate Investors, and worked to secure the loan from institutional investors advised by J.P. Morgan Global Alternatives. The 6-year, full term interest only loan was secured at a competitive interest rate.

The four-property portfolio is 98.3% leased and comprises a variety of multi- and single-tenant warehouse, distribution and manufacturing buildings. The properties feature clear heights ranging from 24 to 32 feet, with a total of 47 dock-high doors and 17 drive-in doors. The properties are in great infill locations in four primary U.S. industrial markets at the following addresses:

  • 1550 and 1210 E 73rd Ave. in Denver, Colorado
  • 6335 1st Ave. South in Seattle, Washington
  • 2947 Brick Church Pike in Nashville, Tennessee
  • 55-30 46th St. in Maspeth, New York

The JLL Capital Markets Debt Advisory team was led by Senior Managing Director Eric Tupler and Managing Director Kristian Lichtenfels along with Senior Managing Director Brian Dawson, Director Kaden Eichmeier and Senior Director Jillian Mariutti.

“Big thanks to the teams at J.P. Morgan Asset Management and JLL for all of their help in getting this financing completed in a challenging financing environment.” Tom Karbowski, Managing Director, EverWest.

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 sales and 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.

About EverWest Real Estate Investors LLC

EverWest Real Estate Investors (“EverWest”) is a real estate investment advisor providing investment management services throughout the U.S. including acquisitions, asset management, development and property management for our investors. With $5.3 billion in assets under management, EverWest clients invest through separately managed accounts and commingled funds. The firm is headquartered in Denver with regional offices in New York City, Charlotte, Los Angeles, San Francisco and Austin metro areas. EverWest is an affiliate of Sagard, a leading global alternative asset management platform within the Power Corporation of Canada ecosystem.

About JLL

For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.9 billion and operations in over 80 countries around the world, our more than 103,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.

About J.P. Morgan Global Alternatives

J.P. Morgan Global Alternatives is the alternative investment arm of J.P. Morgan Asset Management. With over 60 years of experience in managing alternative investments, $213 billion in assets under management and over 800 professionals (as of June 30, 2023), its strategies cover the full spectrum of alternatives: real estate, private equity, private credit, liquid alternative products, infrastructure, transport, hedge funds and forestry. From the Americas, Europe and Asia, independent alternative investment teams combine their cutting-edge expertise with J.P. Morgan’s resources, infrastructure and global reach to achieve each client’s specific objectives.