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


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


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, Twitter @Colliers or LinkedIn.



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Jeremy Thornton

Executive Vice President

San Francisco

Mr. Thornton has 20+ years experience in the sourcing and structuring of debt and equity capital for commercial real estate transactions nationally and internationally with over $16.5 billion in successfully completed assignments in his career.  His expertise encompasses a wide spectrum of transaction types including financing for new construction, acquisition, and recapitalization of all major commercial property types including office, retail, industrial, multifamily and hospitality.

Having served as a principal on the lending, ownership and brokerage sides of the commercial real estate industry during the course of his career, Mr. Thornton brings a wealth of knowledge and offers a unique 360 degree perspective to real estate capital markets transactions.  He previously held positions with Deutsche Bank, Berkshire Mortgage Finance, Strategic Realty Capital and Palmer Capital Inc.

Mr. Thornton has extensive long-standing relationships with a diverse base of domestic and foreign capital sources including insurance companies, pension funds, commercial and investment banks, foreign banks, conduits, commercial mortgage REITs,  opportunity funds, and credit companies.  He is focused on providing comprehensive and creative debt and equity solutions for private and institutional clients nationwide.

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Andrew Gibson

Senior Vice President

San Francisco

Mr. Gibson is a Senior Vice President on the Structured Finance Advisory Group. He brings a wide array of commercial real estate experience, including advising clients on their capital stack to institutional investment sales. Before joining Colliers, Mr. Gibson was a Partner at Palmer Capital. He focused on investment sales, debt, and equity for institutional, middle market, and private clients transacting in the Western United States.

Before Palmer Capital, Mr. Gibson was a Captain in the United States Air Force. As a contracting officer, Mr. Gibson was responsible for managing multiple existing contract programs and leading source selections for Air Combat Command, Al Udeid Air Base, and Beale AFB, with a total value of more than $300M. Mr. Gibson holds an MBA from the University of North Carolina's Kenan-Flagler School of Business and obtained his bachelor's degree from the United States Air Force Academy.

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Nicole Sayers

Senior Vice President


Nicole is a member of the Structured Finance Advisory Group, providing capital solutions to real estate investors, developers and corporate users for all commercial property types.  Having spent most of her 17+ year career as a direct lender, Nicole leverages her vast technical skills and wide-ranging industry relationships to source and craft optimal debt and equity capital for her private and institutional clients.  The team works with the full spectrum of transaction types including financing for new construction, acquisition, recapitalization and consultation of all property types.  Creativity and the ability to overcome obstacles through the course of a transaction has been a key driver to her client’s success.

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