JLL Capital Markets has locked in a $59 million refinancing package for a three-building Class A industrial portfolio stretching from suburban Cincinnati to metro Chicago, giving its owners fresh fuel for growth at a time when lenders are getting choosier about what they back.
The deal, announced Tuesday, covers roughly 647,700 square feet of newly delivered distribution space owned by Brennan Investment Group in partnership with Reinsurance Group of America. The five-year loan refinances two warehouses in Fairfield, Ohio, and one in Hoffman Estates, Illinois, and is expected to give the ownership team added liquidity for operations and future expansion.
Deal Details
According to REJournals, JLL arranged the $59 million facility through a regional bank. The Capital Markets team on the assignment was led by Senior Managing Director Matthew Schoenfeldt and Managing Director Lucas Borges, with Senior Director Brian Walsh, Associate Michael Gurwin and Senior Analyst Christian Johnston rounding out the roster.
Seward Pointe In Fairfield
In Fairfield, Brennan Investment Group’s Seward Pointe Commerce Park carries two buildings totaling about 446,000 square feet, a 282,420 square foot facility at 3770 Symmes Road and a 163,621 square foot facility at 8551 Seward Road. The properties sit in an established industrial corridor northwest of the Seward and Symmes intersection, with direct access to State Route 4 and convenient connections to I-75 and I-275, positioning them firmly in the path of logistics and manufacturing demand.
Brennan Investment Group characterizes the Fairfield assets as shovel ready Class A buildings that came online in 2023, a profile that has helped pull in long term tenants seeking modern distribution space.
The Ninety Logistics Center Near O'Hare
The Chicago area piece of the portfolio is The Ninety Logistics Center at 2685 N Eagle Way in Hoffman Estates, an approximately 201,600 square foot building just east of the I-90 and Barrington Road interchange and roughly a 20 minute drive from O’Hare International Airport.
Keeley Construction’s project materials highlight features such as 32 foot clear heights, an ESFR fire sprinkler system and LED lighting, while LoopNet describes the property as modern, divisible industrial space that was delivered in 2023. Coupled with its highway and airport proximity, those specs help explain why lenders are comfortable stepping in with a sizable refi.
What It Signals For Midwest Industrial
Refinancing newer, high spec warehouse product like this portfolio signals that investors are still chasing well located Midwestern industrial, even as ground up development starts to cool. Cincinnati’s industrial vacancy rate slid to about 5.9 percent in late 2025, according to Newmark, a data point that suggests modern space in the Tri-County submarket is not sitting empty for long.
For Brennan and RGA, the new financing structure should free up capital for additional acquisitions or development plays across the region. For JLL, the closing extends its run as an active debt arranger on contemporary Midwest industrial assets at a time when many lenders want well leased, high quality collateral above all else.
