Slate Asset Management Offers $46.35 Million Senior Loan Facility for 620,000 Square Foot Industrial Acquisition | national company



CHICAGO–(BUSINESS WIRE)–February 22, 2022–

Slate Asset Management (“Slate”), a global alternative investment platform focused on real estate and infrastructure, today announced that Slate Real Estate Capital, Slate’s private lending business, has provided a $46.35 million senior loan to ScanlanKemperBard and an institutional investor to acquire a 620,000 square foot Class A industrial distribution center in Glendale, Arizona.

The property is located in the Southwest Valley, an industrial submarket of Phoenix that has seen record new deliveries, positive net absorption, significant rental growth and historically low vacancy rates. The site is located minutes from two major highways – Highway 101 and I-10 – and benefits from multiple site access points and direct regional access.

The flexible capital provided by Slate will allow the borrower to execute their value-added business plan, creating an asset that will appeal to tenants in the market. Slate is an active lender through its real estate lending platform, Slate Real Estate Capital, which provides transition capital and flexible liquidity to sponsors and strong assets in the commercial real estate industry.

Ramsey Daya and Grant Gooding of Newmark represented the borrower for the transaction.

About Slate Asset Management

Slate Asset Management is a global alternative investment platform targeting real assets. We focus on the fundamentals with the aim of creating long-term value for our investors and partners. Slate’s platform offers a range of real estate and infrastructure investment strategies, including opportunistic, value-added, core plus and debt investments. We are backed by exceptional people and flexible capital, which enable us to create and execute a wide range of attractive investment opportunities. To visit slateam.com to learn more.

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CONTACT: Slate Asset Management

Karolina Kmiecik

[email protected]

KEYWORD: UNITED STATES NORTH AMERICA ILLINOIS ARIZONA

KEYWORD INDUSTRY: PROFESSIONAL SERVICES OTHER CONSTRUCTION & REAL ESTATE COMMERCIAL BUILDING & REAL ESTATE FINANCE CONSTRUCTION & REAL ESTATE URBAN DEVELOPMENT

SOURCE: Slate Asset Management

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PUBLISHED: 02/22/2022 09:00/DISC: 02/22/2022 09:02

http://www.businesswire.com/news/home/20220222005029/en

Copyright BusinessWire 2022.