Foundry Commercial, American Realty Advisors Secure $57M Loan For South Florida Logistics Facility

JLL Capital Markets has arranged $57 million in financing for Osprey Logistics Park, a 427,515-square-foot Class A industrial park in Broward County.

JLL worked on behalf of the borrower, a joint venture between affiliates of Foundry Commercial and a fund managed by American Realty Advisors (ARA), to secure a floating-rate loan through Synovus.

Completed in 2023, Osprey Logistics Park consists of two state-of-the-art industrial buildings featuring 36-foot clear heights, 180-foot truck courts, 235-foot building depths and 54-foot column spacing.

Located at 12000 NW 39th St. in Coral Springs, the property sits on a 22.2-acre site adjacent to Sawgrass Expressway and Sample Road, providing exceptional connectivity to South Florida’s major transportation arteries. The park is strategically positioned in an infill location within Broward County, Florida’s second most populous and fourth fastest-growing county.

The JLL Capital Markets team representing the borrower was led by Senior Managing Directors Steven Klein and Melissa Rose, Associate Nicole Barba and Analyst Preston Bacon.

“This financing package supports a truly rare industrial asset in a market with virtually no developable land remaining and zero vacancy among modern buildings,” said Rose. “With this extreme supply constraint, the property’s best-in-class specifications and the sponsors’ deep market expertise, we are confident that this asset is positioned for future growth.”

 

Klein added, “We are proud to have secured this financing on behalf of Foundry Commercial and American Realty Advisors, two best-in-class sponsors with extensive development experience throughout South Florida. Their proven track record of delivering institutional-quality industrial assets was instrumental in structuring favorable terms with Synovus.”