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**CBRE Arranges Acquisition Financing for Minnesota Industrial Portfolio**
CBRE has secured acquisition financing for a 109,000-square-foot industrial portfolio comprising five buildings located in New Brighton and Roseville, Minnesota.
The portfolio was acquired through a joint venture between Minnesota-based firms Saber Hall and Quality Trusted Commercial Construction & Roofing, Inc. The seller remains undisclosed. CBRE’s Billy Mork, Joel Torborg, and Mike Vannelli, part of the firm’s Capital Markets’ Debt and Structured Finance team in Minneapolis, arranged the financing. The loan structure includes a 65% loan-to-value, fixed-rate, full-term interest-only format.
Housing 21 tenants, the properties feature small-bay industrial spaces with an average tenant size of 5,200 square feet. Following the acquisition, Saber Hall will manage the properties.
“The loan size, granular rent roll, mark-to-market rent story, and strong local sponsorship made this a competitive bidding process for life insurance companies and banks,” said Mork. “Ultimately, we secured favorable acquisition debt for the buyers, allowing them ultimate flexibility to execute their business plan.”
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