Faropoint has grabbed a $150 million acquisition loan that will play a role in supporting the tech-focused real estate manager's Industrial Sale-Leaseback (ISLB) Fund.
The fund, which is targeting $300 million total, raised $170 million from its initial close in August. The capital aims to find off-market deals for infill industrial properties that range from 20,000 to 200,000 square feet, carrying an average lease term of 10 years.
The strategy implemented by Faropoint looks to take advantage of what it calls "tightening credit markets" and "liquidity-constrained" regions.
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