On October 20, 2025, Wells Fargo announced that it is the lead lender on an $820 million refinancing of a 6.1 million‑square‑foot industrial portfolio owned by a joint venture of CIP Real Estate and Almanac Realty Investors. The deal, structured as a floating‑rate, single‑asset single‑borrower (SASB) refinancing, was led by Wells Fargo with J.P. Morgan and Goldman Sachs originating portions of the loan.
The portfolio consists of 42 shallow‑bay industrial properties spread across six states—Atlanta, Dallas‑Fort Worth, Charlotte, Tampa, California’s East Bay, and the Inland Empire. 91 % of the space is leased to more than 950 tenants, with an average property size of 145,925 square feet and an average clear height of 19 feet. The properties are positioned near major transportation corridors and population centers, serving logistics, e‑commerce, and distribution tenants.
The refinancing provides the borrower with competitive terms and enhanced flexibility to continue its growth strategy in the shallow‑bay industrial sector. Wells Fargo’s role as lead lender underscores its continued presence in commercial real‑estate financing and its ability to deploy capital in large, diversified asset portfolios.
This transaction highlights Wells Fargo’s active engagement in sizable real‑estate financing deals, offering potential returns to the bank’s capital base and reinforcing its position as a key lender in the industrial property market.
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