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4/22/14
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KTR Capital Partners has obtained a $142 mil loan for a 4.3 msf, high-quality portfolio of industrial properties in Georgia, Nevada and Texas that are owned by its affiliated fund, KTR Industrial Fund III. KTR Capital Partners is a New York-based private equity real estate investment, development and operating company.
Val Achtemeier of CBRE Capital Markets’ Debt & Structured Finance group arranged the senior loan with a 65% fixed rate portion ($92.3 mil) and 35% floating rate portion ($49.7 mil) through Prudential Mortgage Capital Corporation. The loan featured attractive blended pricing with a five-year term as well as full-term interest only.
The industrial portfolio consists of 16 institutional quality buildings strategically located in Georgia, Texas and Nevada. The portfolio is 87% leased and represents a critical mass of highly functional industrial warehouse and distribution facilities. The portfolio provides excellent geographic and tenant diversification, functional layouts, strong dynamics and a manageable lease maturity schedule.
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