CBRE Arranges Sale and Acquisition Financing for 1.32M-SF Industrial Portfolio in Indianapolis

CBRE has arranged the sale and acquisition financing for a 1.32 million-square-foot industrial portfolio featuring seven properties in Indianapolis. Capital Partners purchased the portfolio from Arcapita for $107.3 million.

CBRE’s Judd Welliver, Zach Graham, Ryan Bain, Bentley Smith, Michael Caprile and Joe Horrigan represented the seller in the transaction. CBRE’s Billy Mork, Mike Vannelli and Joel Torborg of CBRE Capital Markets’ Debt and Structured Finance team in Minneapolis secured the fixed-rate, full-term, interest-only $64.38 million loan on behalf of the buyer. CBRE’s JD Graves and Chris Black will be responsible for the marketing and leasing of the portfolio.

“We’re looking at a portfolio with solid occupancy, well-positioned assets, and strong future upside,” said Mork. “The financing terms we achieved speak volumes about lender confidence in both the properties and the Indianapolis market.”

The portfolio includes properties at 5102-5160 W. 76th St., 7826-7868 Allison Ave., 5304 W. 74th St., 4919-4923 W. 78th St., 5406-5456 W. 78th St., 9202-9214 E. 33rd St., and 9222-9228 E. 33rd St.

• 5102-5160 W. 76th St. features 24-foot clear heights, three drive-in doors, and a 122-stall parking lot. The building totals 257,400 square feet and was 100% occupied by three tenants at the time of sale.
• 7826-7868 Allison Ave. features 24-foot clear heights, three drive-in doors, and a 70-stall parking lot. The property spans 180,100 square feet and was 50% occupied by one tenant at the time of the sale. 
• 5304 W. 74th St. features 26-foot clear heights, one drive-in door, and a 53-stall parking lot. The building totals 311,600 square feet and was 100% occupied by one tenant at the time of the sale.
• 4919-4923 W. 78th St. features 26-27-foot clear heights, two drive-in doors, and a 68-stall parking lot. The property spans 196,800 square feet and was 100% occupied by two tenants at the time of the sale. 
• 5406-5456 W. 78th St., features 20-foot clear heights, six drive-in doors, and a 97-stall parking lot. The building totals 81,695 square feet and was 100% occupied by two tenants at the time of the sale.
• 9202-9214 E. 33rd St. features 20-foot clear heights, four drive-in doors, and a 169-stall parking lot. The building totals 257,400 square feet and was 85.2% occupied by three tenants at the time of sale.
• 9222-9228 E. 33rd St. features 24-foot clear heights, five drive-in doors, and a 147-stall parking lot. The property spans 202,561 square feet and was 100% occupied by three tenants at the time of the sale.

“Capital Partners is thrilled to enter the Indianapolis market,” said Jason Simek, Managing Partner, Capital Partners. “We are a hands-on owner, operator of industrial real estate who targets functional, well-located infill assets in vibrant markets like Indianapolis. Capital Partners owns over 17 million square feet and plans to expand the footprint beyond this initial 1.3 million-square-foot acquisition.”