Affinius Capital Originates $85M Loan for 814,000 SF Industrial Facility in Norfolk MSA
New York City, August 7, 2023 – Affinius Capital LLC (“Affinius Capital”) – formerly Square Mile Capital Management and USAA Real Estate – today announced that it has originated an $85 million loan to facilitate the acquisition of an 814,000-square-foot industrial warehouse located in the Hampton Roads region of Virginia. The loan was made to Invesco Real Estate, a global real estate investment manager.
Scott Lewis and Matt Ballard of CBRE's Dallas office arranged the financing on behalf of Invesco Real Estate.
Affinius Capital Managing Director Eric Cohen commented, “We are big believers in the growth story in Norfolk, which is being driven by increasing demand and growing activity at the Port of Virginia. We continue to seek out opportunities to finance newly built, state-of-the-art industrial assets which we believe are well positioned in the market, and we are thrilled to partner with Invesco Real Estate on another investment opportunity.”
The Port of Virginia, which is just 26 miles from the property, serves as the third largest container port on the East Coast, and is recognized as the most efficient port in North America by The World Bank’s Container Port Index. More than 40 million consumers can be reached within 250 miles of Hampton Roads. The property, located at 150 Judkins Court, Suffolk, Virginia, contains sought-after features including 36’ clear heights, four drive-in doors, 82 dock high loading doors, and a combined 704 auto and trailer parking spaces.
About Affinius Capital
Affinius Capital (previously known as USAA Real Estate and Square Mile Capital Management) is an integrated institutional real estate investment firm focused on value creation and income generation. With a 40-year track record and $34 billion in net assets under management, Affinius has a diversified portfolio across North America and Europe delivering both equity and credit to its trusted partners and on behalf of its institutional clients globally. For more information, visit www.affiniuscapital.com.
About Invesco Real Estate
Invesco Real Estate is a global leader in the real estate investment management business with $91.1 billion in real estate assets under management, 586 employees and 21 regional offices across the U.S., Europe and Asia (as of March 31, 2023). Invesco Real Estate was established in 1983 and today invests across the risk return spectrum, from core to opportunistic; in equity and debt; listed and direct; locally and globally. Invesco Real Estate is a business name of Invesco Advisers, Inc., an indirect, wholly owned subsidiary of Invesco Ltd. Invesco Ltd. is an independent investment management firm dedicated to delivering an investment experience
