March 18, 2020
NKF arranged a $163-million floating-rate loan for the Arden Group’s acquisition and recapitalization of a 12-asset industrial portfolio located in high-growth submarkets throughout the U.S. Philadelphia-based Arden is acquiring a portfolio of assets from Avistone, spread across San Antonio and Dallas, TX; Atlanta, GA and Columbus, OH, for an undisclosed purchase price.
The NKF team was led by New York-based Dustin Stolly and Jordan Roeschlaub, co-heads of debt & structured finance, along with senior managing directors Chris Kramer and Nick Scribani and associate Shervin Tork. Both CIT and BlackRock provided the loan.
Avistone assembled the portfolio in transactions dating back to June 2014. They’ll be combined with two Philadelphia and Charlotte properties already acquired by Arden in the second half of 2018. The new financing will retire the securitized debt on the acquisition targets, while paying down the bridge loan on the Philadelphia and Charlotte assets.
For comments, questions or concerns, please contact Paul Bubny