Barings is providing a $244 million loan to refinance buildings in Kansas, which includes 10 warehouses and distribution centers.
The 6.4 million square feet portfolio is in Logistics Park Kansas City, Edgerton, Kansas. Ares Management Real Estate fund and NorthPoint Development, a joint venture, own the buildings. The JV was established between 2014 and 2017. Currently, the portfolio is leased 93 percent to major brands including Amazon, Sam's Club, Smart Warehousing, Assa Abloy, and Stanley Black & Decker.
The properties feature 706 dock doors (which average 35 feet in height), and concrete tilt-panel construction. Also, they all contain access to BNSF Railway's intermodal rail facility.
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