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Colliers Places $67.5M in Financing for Indianapolis Light Industrial Portfolio

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Financing finalizes the arrival of Cardinal Industrial, Stos Partners and Long Wharf Capital partnership in Midwest market

Indianapolis, IN March 10, 2022 – Leading diversified professional services and investment management company Colliers successfully placed $67,500,000 in financing on behalf of Cardinal Industrial, Stos Partners and Long Wharf Capital for their recent acquisition of a 12-property light industrial portfolio in the Indianapolis metropolitan area. Jeremy Thornton, Andrew Gibson and Nicole Sayers with Colliers’ West Coast-based Debt & Equity team worked with Wells Fargo Bank on a financing structure for the portfolio, which was finalized on February 18, 2022.

“The pandemic gave a significant boost to the steadily growing demand for e-commerce, third-party logistics providers and big-box industrial real estate,” said Thornton. “Investors are grabbing high-performing assets in markets like Indianapolis that are seeing record amounts of user demand. It was our team’s pleasure to assist Cardinal Industrial, Stos Partners and Long Wharf Capital in their entry to the Midwest market.”

The portfolio covers 1,122,936 total square feet and, at the time of the sale, was 95% occupied by tenants representing a diverse array of industries.

Indianapolis’ industrial sector continued to lead the market in 2021. At the end of the fourth quarter, the industrial market’s vacancy rate ended at 3.8%, its lowest in more than a decade. New leasing activity totaled nearly 24 million square feet, and the market achieved a record 18.5 million square feet in direct net absorption, a 77% year-over-year increase. A record amount of new construction, roughly 24 million square feet, is currently underway to keep up with unprecedented user demand.

 

Media Contact:

Solana Tanabe

Allison+Partners for Colliers Northern California

solana.tanabe@allisonpr.com

 

About Colliers
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 64 countries, our 17,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 27 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of 20% for shareholders. With annual revenues of $4.1 billion and more than $50 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.



 

 


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