IPA Capital Markets, a division of Marcus & Millichap (NYSE:MMI) specializing in capital markets services for major private and institutional clients, has arranged $77.3 million in financing for the construction of Central Port Logistics Tract 3, an industrial property located in Savannah, Georgia. The financing was secured by Dallas-based IPA Capital Markets’ executive managing director Sunny Sajnani and associate director Travis Headapohl, on behalf of their client, Capital Development Partners (CDP) based in Savannah.
Sajnani stated: “The level of lender interest for this project is a testament to Capital Development Partners and their ability to develop high quality logistics and distribution facilities in desired port markets. A national life company embraced the opportunity for this attractive financing and delivered competitive terms. This project provided a financing opportunity that offered scale, backed by the strength of the Port of Savannah.”
Central Port Logistics Tract 3 will consist of three speculative industrial buildings totaling 1,222,560 rentable square feet near the Port of Savannah. CDP anticipates the project will be fully leased and tenant-occupied by November 2026. These buildings are part of the larger Central Port Logistics Center, where CDP has delivered large-scale industrial projects, including a 982,800-square-foot building fully leased to Plastic Express, a 1,456,000-square-foot facility nearing stabilization, and two recently delivered 150,000-square-foot flex warehouses.
“The non-recourse, life company construction loan will provide funds to complete the vertical construction as well as lease-up of the project,” Sajnani said.
