Blackstone has arranged a $81.5 million loan for Faropoint to refinance 16 industrial properties.
The assets are located in Faropoint's Industrial Value Fund III, which raised $915 million after closing in June. The industrial properties are located in six undisclosed markets and span 1.2 million square feet.
The refinancing allows the real estate manager's debt sources to diversify while giving it flexibility to make acquisitions by freeing up capital.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
