Benefit Street Partners Provides $72M Refi for Georgia Logistics Center

Thor Equities has secured $71.7 million to refinance Gordon Logistics Center, a 1 million-square-foot, Class A logistics facility in Adairsville, Ga., a city 61 miles northwest of Atlanta. 

Benefit Street Partners provided a two-year, floating-rate loan that carries three one-year extension options. JLL’s Peter Rotchford, Bobby Norwood, David Sitt, Christopher Pratt, Hamp Gibbs and Streeter Simmons arranged the financing and announced the deal Thursday

JLL’s Norwood emphasized in a statement that the Adairsville area has benefited from its Georgia county enacting an inventory tax exemption, as well as few new industrial construction projects completed in the last two years.  

“Development has been vigorous, and tenant demand is matching it thanks to the strategic location and deep, reliable labor pool,” said Norwood.

Located at 3864 Highway 41 South East, Gordon Logistics Center opened in 2023 and sits in northwest Georgia alongside Interstate 75, the longest freight corridor in the state with connections to Atlanta and Chattanooga, Tenn. Gordon Logistics Center also offers access to the inland rail terminal known as the Appalachian Regional Port. 

Joe Sitt, chairman of Thor Equities, said in a statement that the U.S. Southeast continues to display ”exceptionally strong” demand for new industrial centers. 

“The refinancing of Gordon Logistics Center reflects Thor’s ongoing commitment to developing and managing high-performing assets that deliver long-term value for our partners and investors,” he added. 

Brian Pascus can be reached at bpascus@commercialobserver.com.