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The joint venture between LXP Industrial Trust and Davidson Kempner Capital Management has obtained a $376 million loan, according to a Fitch Ratings report. The CMBS mortgage is backed by a 20-property, 6.3 million-square-foot industrial collection spread across 11 states. The deal is expected to close on August 27.

Chase Bank and Morgan Stanley Bank co-originated the loan. KeyBank serves as special servicer and Deutsche Bank National Trust Co. as trustee.

The two-year, floating-rate interest-only mortgage agreement three one-year extensions options. Proceeds will go toward repaying an existing debt of $345.5 million, with $15.9 million remaining in equity and $9.8 million assigned for closing costs.