An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Cushman & Wakefield Arranges $224M Construction Loan for Industrial Park in Arizona
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
Cushman & Wakefield (NYSE: CWK) has facilitated $224 million in acquisition and construction financing for The HUB @ 202, a 1.5 million-square-foot industrial park in Mesa, Arizona. The financing was secured from MSD Partners, linked to Michael Dell. This significant project includes 11 buildings and construction is set to begin in Q2 2022. The industrial market in the Southeast Valley has shown robust growth, making this an attractive investment opportunity. The company's strong representation in this transaction highlights its capabilities in capital markets.
Positive
Secured $224 million in financing for The HUB @ 202 project.
Construction expected to commence in Q2 2022, promising timely execution.
Project located in a rapidly developing Southeast Valley industrial market.
Negative
None.
MESA, Ariz.--(BUSINESS WIRE)--
Cushman & Wakefield (NYSE: CWK) announced that the real estate services firm served as the exclusive advisor to a partnership led by Wharton Industrial and Madison Ventures Plus in the procurement of $224,070,000 in acquisition and construction financing for The HUB @ 202, a master-planned 1.5-million-square-foot industrial park located in the Southeast Valley submarket of Mesa, Arizona. Financing for the project was provided by MSD Partners, L.P., which was formed in 2009 by the partners of MSD Capital, L.P., the family investment office for Michael Dell, the Founder & CEO of Dell Technologies.
A Cushman & Wakefield Capital Markets team of John Alascio, Dave Karson, Chris Moyer, Will Strong, Kirk Kuller, TJ Sullivan, Chuck Kohaut and Zachary Smolev represented the borrower.
“The HUB @ 202 presented a compelling opportunity for the capital markets to invest in the Southeast Valley region of Phoenix, one of the top markets for industrial commercial property sales since 2019,” said Alascio. “We are proud to have represented this strong partnership and extremely pleased with the full-stack financing secured from an institutional capital provider in MSD.”
“We are very pleased with the execution by Cushman & Wakefield regarding this transaction. John and his team worked tirelessly in running a robust process and we couldn’t be happier in joining forces with MSD on The Hub @ 202,” added Peter C. Lewis, Chairman of Wharton Industrial.
Anticipated to measure approximately 1.5 MSF once fully completed, The HUB @ 202 sits on a 101-acre land parcel that will consist of an 11-building Class A master-planned industrial park. Construction is anticipated to commence in Q2 2022.
Cushman & Wakefield's more than 1,000 Logistics & Industrial Services professionals around the world provide local market expertise and strategies for manufacturing, logistics, warehousing and supply chain. According to Cushman & Wakefieldresearch, Q4 2021 was another record-breaking quarter for the U.S. industrial market, with demand, rents and the construction pipeline continuing to reach new heights.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and 60 countries. In 2020, the firm had revenue of $7.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
