Aminim Group Adds Six DC/Baltimore Industrial Properties to Portfolio
CIT arranged $53 million in financing for the purchase
Aminim Group has received $53 million in financing for the acquisition of a six-property industrial portfolio in the Washington, D.C. and Baltimore regions.
CIT, a division of First Citizens Bank (FCNCA), served as lead arranger of the financing. The loan details were not revealed.
The properties total approximately 500,000 square feet and have strong lease agreements to existing tenants, according to the Aminim Group.
Four of the six properties are located in Baltimore, including the three-building Severn Logistics Facility, together spanning 124,000 square feet, and the 57,040-square-foot Odenton Light Industrial close to BWI airport. The final two assets are located in Marlboro. The pair of buildings are known as the Upper Marlboro Distribution Center I and II, which span 210,000 square feet and 102,000 square feet, respectively.
“Demand is strong for logistical facilities in the mid-Atlantic region and this new portfolio of properties is well positioned to support that market demand,” Nir Kriel, CEO of Aminim Group, said in a prepared statement. “We have previously partnered with CIT and are again pleased by the expertise and agility they demonstrated in arranging financing for this acquisition.”
Over the past two years, the company has acquired more than 3 million square feet of logistics, industrial and commercial space in the U.S, as well as 10,000 multifamily units.
Keith Loria can be reached at Kloria@commercialobserver.com.