Totalling approximately 2.5 million square feet, the portfolio is spread across highly sought-after markets in South Carolina, North Carolina, New Jersey, Wisconsin, Georgia, Iowa and Pennsylvania. These areas benefit from strong labor markets, low unemployment rates and positive population growth trends.
At closing, the properties were 99% leased to 15 diverse tenants across a variety of industries, including technology, manufacturing, warehousing, logistics, aerospace and government. Many tenants have long histories at the properties, ranging from 1 to 20+ years, with an average tenure of approximately 8 years.
The JLL Debt Advisory team included Managing Director Peter Rotchford, Senior Director Lucas Borges Executive Managing Director Riaz Cassum and Senior Managing Director Steven Binswanger.
"We are thrilled to expand and diversify our lending partnerships with such a trusted institution like Apollo. We want to thank the JLL team for facilitating the multi asset financing and look forward to working with them on many more transactions in the future," said Alex Dembitzer, Founder of SkyREM.
Despite a national pullback in industrial leasing since the pandemic highs, the Logistics & Parcel Delivery industry was a top performer in the sector this year, driven in large part by increased Asian 3PL demand. In New Jersey, leasing volume in Q3 2024 came in at the second greatest level of all time, tallying 14 million square feet.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources visit JLL's newsroom.
About SkyREM, LLC
SkyREM, with offices in Philadelphia and in New York City, is a privately funded and managed real estate company which owns and operates a large, diversified portfolio of properties in the United States. As a principal for its own account, Sky is actively acquiring throughout the United States. To learn more about SkyREM please contact Marc Civitillo or James Pancetti at 212-888-6920, or visit www.skyrem.com.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 111,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
Contact: Grace Lewis, JLL PR
Email: [email protected]
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SOURCE SkyREM; JLL Capital Markets
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