news—02.10.2022

Clarion Provides $415M Mezzanine Debt Loan For 110-Property Industrial Portfolio

Press Release

Tan and white 2-story distribution center

​​​​NEW YORK (February 10, 2022) Clarion Partners is providing a $415 million mezzanine loan as part of a package that will refinance a portion of Blackstone’s Cubic/Colony industrial portfolio comprising 110 industrial properties totaling 15.7 million square feet located across 15 markets. 

The high-quality portfolio, which is over 93% leased to a diverse roster of 300+ unique local, regional, and national tenants, includes properties located primarily in the Dallas-Fort Worth, Phoenix, Baltimore, and Atlanta markets. The portfolio benefits from continued strong demand trends in the logistics market and their prime MSA locations. 

“Clarion Partners’ deep expertise in the logistics sector combined with our debt team’s longstanding focus on mezzanine financing positioned us to facilitate the transaction’s compressed time frame,” said Managing Director Drew Fung. “Clarion Partners is pleased to provide financing on this impressive portfolio of logistics properti​es.”

Interestingly, our industrial acquisition team was already familiar with the portfolio because they had looked at it when the seller (Colony Capital) originally sold it to Blackstone.  This was helpful to us in doing the mezz loan because our team didn’t have to start from “scratch” in evaluating/underwriting the portfolio.  

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About Clarion Partners, LLC 

Clarion Partners, LLC, has been a leading real estate investment manager for more than 39 years. Headquar​tered in New York, the firm maintains strategically located offices across the United States and Europe. With $71 billion in total real estate and debt assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to 500 institutional investors across the globe. Clarion is scaled in all major property types and was an early entrant into the Industrial sector. The Firm’s Industrial team manages a nearly 900-property portfolio in the U.S. and Europe consisting of more than 206 million square feet. ​




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