Logistics Property Company, LLC, (LogiPropCo™) a modern logistics real estate developer, investor, and manager based in Chicago, IL, successfully closed a $205 million permanent loan with PGIM Real Estate through its core lending strategy in May 2024. This loan included five projects within the firm’s first develop-to-core fund, LPC Logistics Venture One, LP (“Venture One”), which includes developments in key markets across the United States.

The five projects, totaling nearly 2.7M square feet across seven buildings, include three key markets:

• • Seattle Market: Frederickson ONE, Building 4 and Building 7
  • Chicago Market: 94 Logistics Park
  • Southeast Pennsylvania / New Jersey Market: Logistics 83 and North Penn Logistics Center

“We are very pleased with the structure and execution of this refinancing with PGIM Real Estate, and grateful for their continued support of our platform,” said Katherine Bernstein, Senior Vice President, Capital Markets for Logistics Property Company. “We are continually impressed with their ease of execution and focus on growing relationships with organizations such as ours.”

“We’re proud of the successful origination of this $205 million loan with Logistics Property Company, as it is a testament to PGIM Real Estate’s ability to efficiently execute large national portfolio transactions,” said Craig Foreman, Executive Director at PGIM Real Estate who led the transaction on the firm’s behalf. “We look forward to continuing to grow our strategic relationship with Logistics Property Company.”

Space is currently available at 94 Logistics Park in Kenosha, WI and North Penn Logistics Center, Building A, in Hatfield, PA. At Logistics 83, two build-to-suit opportunities, Building 2 and Building 3, are available in York, PA.