Affinius Capital originates $85M loan for 814,000 SF industrial facility in Norfolk MSA

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.