JLL Capital Markets announced that it has secured $57 million in financing for Osprey Logistics Park, a 427,515-square-foot Class A industrial park located in Broward County, Florida.
JLL worked on behalf of the borrower, a joint venture between subsidiaries of Foundry Commercial and a fund managed by American Realty Advisors (ARA), to secure a floating-rate loan through Synovus.
Completed in 2023, Osprey Logistics Park consists of two industrial buildings with 36-foot clearances, 180-foot truck yards, 235-foot construction depths, and 54-foot column spacing. The property is located at 12000 NW 39th St., Coral Springs, Florida, on a 22.2-acre lot off the Sawgrass Highway and Sample Road.
The JLL Capital Markets team representing the borrower was led by senior managing directors Steven Klein and Melissa Rose, associate Nicole Barba and analyst Preston Bacon.
"This financing package supports a truly exceptional industrial asset in a market where there is virtually no developable land and no vacancy among modern buildings," said Rose. "With this extreme supply constraint, excellent property specifications and deep market knowledge from developers, we are confident that this asset is positioned for future growth."
Klein added, "We are proud to have secured this funding on behalf of Foundry Commercial and American Realty Advisors, two top-tier sponsors with extensive development experience in South Florida. His proven track record in delivering institutional-quality industrial assets was instrumental in structuring favorable terms with Synovus."
