Chicago-based logistics real estate developer, Logistics Property Company, LLC (LPC), has successfully secured a $205 million permanent loan with PGIM Real Estate. This financing was obtained for five projects that are part of LPC’s first develop-to-core fund, known as LPC Logistics Venture One, LP. These projects span across three key markets and total nearly 2.7 million square feet in seven buildings.
The five projects included in this loan are located in the following markets:
– Chicago Market: 94 Logistics Park
– Seattle Market: Frederickson ONE (Building 4 and Building 7)
– Southeast Pennsylvania / New Jersey Market: Logistics 83 and North Penn Logistics Center
Katherine Bernstein, Senior Vice President of Capital Markets for LPC expressed her satisfaction with the refinancing deal with PGIM Real Estate stating that they were impressed by their execution process and focus on building strong relationships with companies like theirs.
This successful transaction is a testament to the continued support from PGIM Real Estate towards LPC’s platform development efforts.
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