Jones Lang LaSalle’s Capital Markets group has arranged a $65 million credit facility on behalf of Canadian private equity firm Dalfen America Corp. for the acquisition of several warehouse and distribution properties as the U.S. industrial sector continues to gain steam.
DAC used an undisclosed portion of the credit facility from Bank of the Ozarks to purchase a 123,500-square-foot, Class-A industrial building in the Southpoint Business Park in Charlotte, N.C, Mortgage Observer has exclusively learned. The property at 13501 South Ridge Drive features twelve dock-high doors, one drive-in door and 221 parking spaces.
Managing Director Randy Fleisher and Executive Vice President Jason Piering led the JLL team on the transaction. Mr. Fleisher, who has nearly 20 years debt and equity experience, and Mr. Piering joined the Chicago-based commercial real estate services and investment management firm after JLL acquired Dallas-based Quadrant Realty Finance this June to expand its capital markets platform.
“The industrial sector has rebounded strongly from its depths during the Great Recession and is proving to be a popular and good investment for those who purchase commercial real estate,” Mr. Fleisher said. “We’ve seen the return of small- and mid-cap tenants to the leasing market, and the national vacancy rate dipped 10 basis points to 8.2 percent in the third quarter. Rents are appreciating, and speculative construction has returned to markets across the United States.”
Sean Dalfen, DAC’s managing principal and chief investment officer, noted that Mr. Fleisher and his team have been an “invaluable resource” for the private equity firm based in Montreal.
“Their professionalism, responsiveness and knowledge have been exceptional,” he said. “Over the years, Randy has consistently performed to meet our financing needs in both Canada and the U.S.”