Latest news with #Faropoint
Yahoo
a day ago
- Business
- Yahoo
Mega $33M office-shipping center near N.J. Turnpike to open next year
The Joyce Kilmer Logistics Center, a new $33 million industrial project in Middlesex County, is expected to be completed in 2026. Faropoint and Deugen Development closed on the construction loan for the 195,421-square-foot complex this summer, according to a news statement issued by Cushman & Wakefield, which arranged the loan. The center, located at 701 Joyce Kilmer Ave. in New Brunswick, will feature 36-foot clear ceiling heights, 32 loading docks and electric vehicle parking spaces, and modern office space, according to the statement. It is designed to accommodate mid-sized users, with the flexibility to divide into smaller units ranging from 40,000 to 50,000 square feet. The project is strategically positioned near major transportation routes including the New Jersey Turnpike (I-95) and Route 1, providing easy access to key consumer markets in New York City and Philadelphia. 'The Exit 9 industrial corridor has become a gateway for commerce in the northeast and has benefitted from a rapid surge in demand for modern industrial facilities, driven by e-commerce growth and supply chain optimization,' said Brad Domenico of Cushman & Wakefield. The development also addresses a specific market need, according to Orry Michael, vice president of Northeast Acquisitions at Faropoint, who said there is a 'limited supply of new Class A product with suites under 100,000 square feet in this Exit 9 micro-location.' Generative AI was used to produce an initial draft of this story, which was reviewed and edited by NJ Advance Media staff.
Yahoo
18-07-2025
- Business
- Yahoo
Developer borrows $33 million for New Brunswick warehouse project
Real estate firm Cushman & Wakefield recently announced it served as the exclusive advisor to Faropoint and Deugen Development in the procurement of a $33 million construction loan for the Joyce Kilmer Logistics Center in New Brunswick. The loan was provided by Bank Hapoalim. Completion on the two-building facility is slated for late 2026. The project is located at 701 Joyce Kilmer Ave. Th development will deliver a total of 195,421 square feet with advanced logistics functionality, such as 36-foot ceilings, 32 loading docks, and electric vehicle parking spaces. Each building also incorporates modern office spaces to cater to versatile business needs. More: New Brunswick, Somerville family-owned apartments sold for $17.5 million 'This deal highlights the growing investor confidence in this particular industrial market, which touts location as its most attractive attribute for investors and tenants alike,' stated Cushman & Wakefield's Brad Domenico. The site's proximity to the New Jersey Turnpike, Route 1, and its accessibility to major consumer markets like New York City and Philadelphia make it a prime location for e-commerce and logistics operators. Brad Wadlow is a staff writer for This article originally appeared on New Brunswick warehouse developer secures $33 million loan
Business Wire
25-06-2025
- Business
- Business Wire
Faropoint Launches Flagship Industrial Value Fund IV Targeting $1 Billion
BUSINESS WIRE)-- Faropoint, a vertically integrated real estate investment manager focused on urban logistics, announced the launch of its flagship Industrial Value Fund IV, targeting $1 billion in capital commitments. The Fund and its sidecar have secured a combined $225 million in seed commitments from the Teacher Retirement System of Texas (TRS). 'Fund IV represents our ongoing commitment to pairing local market expertise with cutting-edge technology to drive value while attempting to minimize downside risk,' said Adir Levitas, CEO of Faropoint Share Fund IV follows its predecessor, Fund III, which raised $916 million (including $29m in co-investments), surpassing its $750 million target, and is now mostly deployed across approximately 200 properties representing $1.8 billion in Gross Asset Value (GAV). Fund IV will continue its pure play strategy and capitalize on ongoing urban logistics tailwinds, as well as the sector's fragmented and largely uninstitutionalized nature, which has high entry barriers for traditional investors. Fund IV will pursue assembling a portfolio of approximately 200–250 assets, primarily targeting suite sizes between 20,000 and 40,000 square feet, with a property size of 20,000-100,000 square feet. The Fund will invest across gateway, primary, and select secondary U.S. markets, applying Faropoint's proprietary sourcing and pipeline management system, FarOS, to identify and transact on high-value opportunities with speed and precision. Faropoint's REXy, an in-house AI-driven asset valuation and mark-to-market underwriting engine, will continue to play a central role in optimizing portfolio construction and underwriting discipline. Both FarOS and REXy are standard across Faropoint's operational stack, enabling scalable decision-making grounded in proprietary data and advanced analytics. The Fund's primary strategy remains mark-to-market, particularly in markets where in-place rents are materially below market. This will be complemented by lease-up opportunities in undersupplied corridors and a dedicated strategic development sleeve. These development efforts will be selectively deployed in supply-constrained core markets where rental rates have increased enough to warrant new construction. 'Fund IV represents our ongoing commitment to pairing local market expertise with cutting-edge technology to drive value while attempting to minimize downside risk,' said Adir Levitas, CEO of Faropoint. 'With access to over $30–40 billion in deal flow annually through FarOS and market insight driven by REXy, we believe we are uniquely positioned to construct diversified portfolios that reflect secular urban logistics trends and dynamic tenant needs.' 'In today's challenging fundraising environment, we're genuinely humbled by the strong support we've received from both long-standing partners and new institutional investors,' said Raz Rahamim, Global Head of Capital Development. 'We believe this speaks not only to the compelling long-term fundamentals of urban logistics, but also to the trust placed in Faropoint's disciplined and technology-driven approach to navigating a fragmented and operationally complex sector.' The initial close for Fund IV occurred in June 2025, and Faropoint is actively pursuing acquisition and development opportunities across its target markets. For inquiries or to learn more about Faropoint's investment strategies, please contact Ori Regev, SVP, Head of Product Marketing, at ori@ About Faropoint Faropoint is a tech-enabled, vertically integrated real estate investment manager specializing in U.S. urban logistics. Since its inception in 2012, the firm has acquired more than 500 warehouses totaling over $3.5 billion in assets across 16 key U.S. markets. Headquartered in Hoboken, NJ, Faropoint operates from 7 regional offices across the United States, enabling hyper-local sourcing, operations, and tenant engagement. The firm combines deep market knowledge with proprietary technologies to streamline sourcing, underwriting, and asset management. With approximately 120 employees and a vast broker network, Faropoint consistently unlocks off-market opportunities and delivers value to its institutional investors and tenants alike. Learn more at
Business Journals
21-04-2025
- Business
- Business Journals
Faropoint buys Inland Empire industrial portfolio
Built in 2006 by Panattoni Development, the Class A industrial buildings are 98% leased to 29 tenants. Four small-bay industrial buildings in the Inland Empire have sold to an investor expanding in Southern California. New Jersey-based investment manager Faropoint bought a 243,000-square-foot multi-tenant portfolio in Ontario as its second transaction in Greater Los Angeles. Built in 2006 by Panattoni Development, the Class A industrial buildings were nearly 98% leased to 29 tenants. Property features include 20- to 25-foot clear heights, shared truck courts and both front-park and rear-load design options. Faropoint plans to implement capital improvements at the properties including roof management, HVAC replacements and some interior upgrades. The portfolio sits near Ontario International Airport, Interstate 10, Interstate 15 and Route 60. Faropoint entered the L.A.-area market last month after purchasing an industrial facility at 605-655 Hawaii Ave. in Torrance. Following its recent entry into the region, the Ontario portfolio acquisition significantly expands the investor's Southern California footprint in a strategic location. Faropoint Chief Investment Officer Ohad Porat said in a statement that the buildings represent the kind of strategic investment the firm seeks when expanding in new markets, adding that the acquisition builds on its momentum on the West Coast. Sign up for Business First's free daily newsletter to receive the latest business news impacting Los Angeles.
