The loan expansion supports recent acquisitions in Phoenix and Chicago
MDH Partners (MDH) today announces the expansion of the Frontier Loan from Capital One, now totaling $162 million. The loan originally closed in April 2024 at $130 million, and has been expanded to include MDH’s recent acquisitions in Phoenix and Chicago. The Frontier Loan now supports more than 2.2 million square feet of MDH’s recent acquisitions and development across Phoenix, Arizona; Streamwood, Illinois; Savannah, Georgia; Indianapolis, Indiana; El Paso, Texas; and Ocala, Florida.
Arun Singh, CFO, and Michael Loffredo, capital markets associate, of MDH secured the loan. Senior Vice President at Capital One Mary Lucy Lester originated the loan for the firm.
“Procuring and quickly closing capital in this economy is a testament to the strength of this portfolio,” said Singh. “Our Phoenix and Chicago assets are fully leased, Class-A buildings in thriving markets. We will continue to seek strategic investments and capital opportunities as we enter the second half of 2024.”
The Frontier Loan is MDH’s second term financing deal with Capital One in the past twelve months– its first being the $59.5 million Gemini Loan that closed in July 2023. The Frontier Loan supports acquisitions and developments from MDH’s Fund II, a discretionary fund equating to $750 million of equity with $2 billion in buying power.
“MDH and its investments in the industrial sector continue to be attractive financing opportunities for Capital One. We will look to continue to grow our relationship with MDH in the future” said Lester.
The loan expansion includes 800 Phoenix Lake Avenue in Streamwood, Illinois, just west of Chicago’s O’Hare International Airport. Conveniently located, the 152,000-square-foot Class-A facility is fully leased to two users. Also included in the expansion is Freeport Distribution Center in Phoenix, a Class-A, fully leased 245,000-square-foot industrial facility.
The original Frontier Loan includes the 655,500-square-foot Beltway Logistics Center in Savannah, the 247,000-square-foot Washington Business Park in Indianapolis, the 555,000-square-foot NIT Forward in El Paso and the 350,899-square-foot Ocala Logistics Center in Ocala, Florida. MDH currently owns or manages approximately 24 million square feet across 30 markets in 18 states.
About MDH Partners
MDH Partners is an Atlanta-based real estate investment company managing its discretionary funds targeting industrial real estate across the United States on behalf of its institutional investors. Founded in 2005 as the successor to a fifty-year-old local real estate development company, MDH Partners has led and/or participated in over $6 billion (90 million square feet) of acquisitions, developments, and asset management as an advisor and investor. For more information, visit www.mdhpartners.com
