Cityscape Intelligence is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

KSA Arbah Capital invests in the U.S. with acquisition of industrial portfolio

Article-KSA Arbah Capital invests in the U.S. with acquisition of industrial portfolio

JLL Capital Markets arranged the equity partnership and $22.9M loan for the 5-property Midwest acquisition

JLL Capital Markets has announced that it has arranged a Shariah-compliant joint venture equity partnership and $22.9 million in debt financing for the acquisition of a five-property industrial portfolio with more than 557,000 square feet of light industrial and flex space in Michigan, Minnesota, Illinois and Iowa.

JLL worked on behalf of Chicago-based Brennan Investment Group (BIG) to arrange the joint venture partnership with Saudi Arabia-based Arbah Capital. Additionally, working on behalf of the new partnership, JLL placed a five-year, floating-rate loan with Wintrust Bank.

The portfolio comprises two facilities in the Grand Rapids MSA, 5460 Executive Pkwy. in Grand Rapids and 1865 Industrial Dr. in Grand Haven, Michigan. Additionally, the 7550 49th Ave. in New Hope (Minneapolis MSA), Minnesota; 4050 Ryan Rd. in Gurnee (Chicago MSA), Illinois; and 1100 E. LeClaire Rd. in Eldridge (Iowa City-Cedar Rapids MSA), Iowa, round out the portfolio.

Home to a diverse mix of tenants in the automotive, manufacturing and telecommunications industry, the 97.5 percent-leased portfolio has a weighted average lease term of 5.4 years. Four of the facilities are single-tenant assets.

Hide comments


  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.