JLL Capital Markets secured acquisition financing for an 11-property, 1,500,000-square-foot retail portfolio, consisting of repurposed and upgraded former Sears retail assets spread across eight states in the central U.S. JLL represented an affiliate of Fidelis Realty Partners as the borrower, to secure a loan through Symetra Life Insurance Company. Financial terms weren’t disclosed.
The portfolio is 90% occupied, and notable tenants include Nordstrom Rack, Ulta Beauty, Total Wine, Dick’s Sporting Goods, Five Below, HomeGoods, The Dump, At Home, Ross, Dollar Tree and Best Buy.
It includes the following:
The JLL Capital Markets Debt Advisory team included senior managing director Colby Mueck, directors Michael King and Christopher Knight and analyst Jack Britton.