Wells Fargo Provides $150M Acquisition Loan for Industrial

Wells Fargo provided a $150 million acquisition loan for a joint venture between Dalfen Industrial and Investcorp to buy a 19-asset logistics portfolio. The portfolio totals 1.38 million square feet across Dallas, Chicago, Indianapolis, and Cincinnati.

The properties are 93% leased to 48 tenants, with a weighted average lease term of roughly three years, according to Dalfen. The sponsorship acquired the industrial properties for $208 million from Mapletree Investments, per sources cited in the report.