JLL’s Capital Markets group secured refinancing in October for a portion of CIP Real Estate’s industrial portfolio totaling 6.13 million square feet via a SASB closing with Wells Fargo Bank, JP Morgan, and Goldman Sachs
IRVINE, Calif., Nov. 11, 2025 (GLOBE NEWSWIRE) — In October, CIP REAL ESTATE closed on an $820 million loan refinance for a national portfolio comprising 42 shallow-bay industrial properties totaling approximately 6.13 million square feet located in six key markets in the Southeast, Florida, and California.
JLL represented the borrower, a joint venture between affiliates of CIP Real Estate LLC and Almanac Realty Investors, to secure a floating-rate, single-asset single-borrower (SASB) refinancing led by Wells Fargo, with JP Morgan Chase and Goldman Sachs also originating portions of the loan.
The portfolio spans six major industrial markets including Atlanta, Dallas-Fort Worth, Charlotte, Tampa, and California’s East Bay and Inland Empire. As of September 2025, the portfolio was 91% leased to more than 950 unique tenants.
The properties feature average clear heights of 19 feet, an average office finish of approximately 33% and range in size from 16,176 to 944,655 square feet, with an average property size of 145,925 square feet. The portfolio’s strategic locations provide tenants with proximity to major transportation infrastructure and population centers, supporting a broad range of logistics, e-commerce and distribution users, including last-mile operators and small to medium-sized businesses.
“This refinancing represents a significant milestone for our partnership with Almanac and demonstrates the strength of our diversified industrial portfolio,” said Eric Smyth, CEO of CIP Real Estate. “We appreciate JLL’s expertise in securing competitive terms that provide us with enhanced flexibility to continue our growth strategy in the shallow bay industrial sector, where we see tremendous opportunity to serve the evolving needs of logistics, e-commerce and distribution tenants.”
The JLL Debt Advisory team was led by Kevin MacKenzie, Christopher Pratt, and Peter Thompson and with additional support from investment sales teams in local markets.
About CIP Real Estate
CIP Real Estate LLC is a full-service real estate investment company focused on the acquisition, repositioning, re-branding, and management of industrial assets throughout West Coast, Southeast and Texas markets. Founded in 1995 and based in Irvine, CA, the company owns and manages over 10.5 million square feet of quality properties, with offices in Ontario (CA), Riverside (CA), Hayward (CA), Las Vegas, Charlotte, Atlanta and Dallas. www.ciprealestate.com
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