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Highlights
Faropoint secured $474 million from Truist Bank and Capital One to refinance an 85-property industrial portfolio with an additional $84 million earn-out available based on NOI growth.
The refinanced portfolio belongs to Faropoint’s Industrial Value Fund III and spans 12 states, including key markets near Chicago, New York City and Philadelphia.
This refinancing follows other major industrial debt moves, including BREIT’s reported $1.7 billion CMBS loan to refinance 76 properties across its portfolio.