WASHINGTON, DC - Cassidy Turley, a leading commercial real estate services provider in the U.S., announced today that it has arranged $20.64 million in financing for the Gateway Industrial Portfolio, two Class A industrial buildings located in Edwardsville, IL.
Cassidy Turley Executive Managing Director Phil Mudd and Vice President Brad Geiger arranged the acquisition financing on behalf of Great Point Investors, LLC, a Boston, MA-based pension fund advisor. The loan was provided by a life company lender.
“We worked closely with our St. Louis investment sales team, Paul Hilton and Mike Hanrahan, on the acquisition financing,” said Mr. Geiger. “Their insights on the historical performance of the industrial park and specific features of the properties were important to creating significant lender interest. Additionally, the institutional sponsorship and strong tenant roster were also draws for the insurance companies.”
Situated in the highly desirable St. Louis Metro East industrial submarket, the Gateway Industrial Portfolio is located on the Interstate 270/Interstate 255 interbelt, which offers outstanding access to the entire St. Louis metropolitan area and connects the four major interstates (Interstate 70, Interstate 55, Interstate 64 and Interstate 44). The two buildings are 100% leased to strong tenants including RAND Diversified, Owens & Minor and Save-A-Lot, a national grocer.
The two buildings, 7 Gateway Commerce Center and 29 Gateway Commerce Center, feature 39-foot clear heights, 42 and 50 dock doors with two drive-ins and fenced drop lots with 90 spaces.
About Great Point Investors, LLC
Great Point Investors, LLC, has been investing in private equity real estate on behalf of institutional investors specializing in separate accounts since 1998.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,800 professionals in more than 60 offices nationwide. With headquarters in Washington, DC, the company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $22 billion in 2012, manages approximately 400 million square feet on behalf of institutional, corporate and private clients and supports more than 23,000 domestic corporate services locations. Cassidy Turley serves owners, investors and tenants with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. Cassidy Turley enhances its global service delivery outside North America through a partnership with GVA, giving clients access to commercial real estate professionals in 65 international markets. Please visit www.cassidyturley.com for more information about Cassidy Turley.