Industrial Logistics Properties Trust Announces $1.235 Billion Debt Financing With A Final Maturity Date In October 2027
Industrial Logistics Properties Trust Announces $1.235 Billion Debt Financing With A Final Maturity Date In October 2027
09/23/22, 12:03 PM
Location
newtonMoney raised
$1.24 billion
Industry
financial services
travel and tourism
real estate
Industrial Logistics Properties Trust (Nasdaq: ILPT) today announced that it has closed on a $1.235 billion debt financing with a final maturity date of October 9, 2027. The financing is secured by a portfolio of 104 industrial properties containing approximately 18.6 million square feet across 31 states. As of June 30, 2022, the 104 properties were 96.8% occupied with a weighted average remaining lease term of approximately 10.5 years.
Company Info
Location
newton, massachusetts, united states
Additional Info
Industrial Logistics Properties Trust (Nasdaq: ILPT) is a real estate investment trust, or REIT, focused on owning and leasing high quality distribution and logistics properties that serve the growing needs of e-commerce. As of December 31, 2021, ILPT’s portfolio consisted of 288 properties containing 34 million rentable square feet in 31 states. More than 70% of ILPT’s annual rental revenues are derived from investment grade tenants, tenants that are subsidiaries of investment grade rated entities or Hawaii land leases. ILPT is managed by The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company with more than $33 billion in assets under management and more than 35 years of institutional experience in buying, selling, financing and operating commercial real estate. ILPT is headquartered in Newton, MA. For more information, visit ilptreit.com.