MDH Partners (MDH) announces the close of a $130 million financing from Capital One. The Frontier Loan supports more than 1.8 million square feet of MDH’s recent acquisitions and development across coastal Georgia and three other US towns. The acquisition includes the 655,500-square-foot Beltway Logistics Center just outside Savannah, in Bloomingdale, the first acquisition from the fund.
Beltway Logistics Center is situated on Jimmy DeLoach Parkway, the main thoroughfare to the Port of Savannah, and less than 1 mile from the I-16 interchange. The Port of Savannah is the fastest-growing and fourth-largest port in the nation, serving 20% of the U.S. population.
According to JLL, Savannah maintains one of the lowest industrial vacancy rates in the U.S and has remained below 5% for nine quarters in a row. Savannah is also in the U.S.’s top 10 for an amount under construction, with 22.0 million SF, of which 30% is pre-leased.
Capital One’s Mary Lucy Lester originated the loan for the firm.
The post $130M MDH Fund Enables Savannah Industrial Acquisition appeared first on Connect CRE.
Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.
robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate
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