Author: Sarah

Echo Real Estate Capital, Inc. Sells Medical Office Building in Rowlett

Posted on by Sarah

Echo Real Estate Capital, Inc. has sold an out-patient medical office building anchored by Baylor Scott & White for $6 million.

The property is approximately 15,500 square feet and is located at 7801 Lakeview Parkway in Rowlett, Texas – one mile west of the Baylor Scott & White Lake Pointe Medical Center. The building was 100% occupied at the time of sale by four tenants that include the renowned Baylor Scott & White Texas Cardiac Associates, North Texas ENT, LabCorp, and Dr. Bart A. Deering, DDS.

“We have been targeting Texas for quite some time and we were able to acquire this asset off-market in May of last year,” said Echo Principal Jon Boyajian. “We loved the proximity to the Baylor Lake Pointe campus and the tenants were all very strong, but they were on short-term leases. Within six months, we had renewed all four tenants and had completed some minor capital improvements that had previously been neglected. Dave Kurtz and our asset management team did a phenomenal job.”

JLL Capital Markets Closes $61 Million in Financing for 17-Market Industrial Portfolio

Posted on by Sarah

JLL Capital Markets has arranged $61 million in acquisition financing for an industrial portfolio comprising nearly 24 last-mile, cross-dock truck terminals and transload properties across 17 markets in the Southeast, Mid-Atlantic, New England and Central U.S.

JLL worked on behalf of the borrower, Biynah Industrial Partners, to source the acquisition loan.

The portfolio is 93 percent leased to 18 tenants with an average tenure of nearly 17 years and substantial investment-grade in-place tenancy. The portfolio crosses various regions with assets in the Southeast, Mid-Atlantic, New England and Central U.S.

The portfolio provides end-to-end logistics solutions for today’s supply chain demands. These facilities represent mission-critical freight distribution transfer points, facilitating the flow of goods at the last stage of the supply chain. Each site offers optimal solutions for facility location, facility size, proximity to major infrastructure, truck court sizing, auto parking and other special use considerations.

This portfolio highlights the growing demand for Industrial Service Facilities, a rapidly growing multi-billion asset class that is suddenly on the radar of institutional investors. Such last-mile, cross-dock truck terminals and transload properties are increasingly driving investor attention due to their critical role in the movement of goods amidst supply chain backlogs.

The JLL Capital Markets team that represented the borrower was led by Managing Director Matthew Schoenfeldt and Director Lucas Borges.