A joint venture partnership between a fund managed by UBS Asset Management, Global Real Estate-US and Becknell Industrial has received a $250 million floating rate loan for its Becknell Industrial Portfolio. The portfolio consists of over 140 Class A distribution properties, totaling 14 million square feet of warehouse space. The properties are located in core markets across the U.S. and are near transportation hubs in key distribution corridors. Roughly 97 percent of the portfolio is leased to a combination of investment grade tenants on long term leases along with strong local and regional tenants. CBRE Capital Markets’ Debt & Structured Finance team arranged the financing on behalf of the borrowers.
