24 Feb 2022

SMBC Provides $460MM Loan to Brookfield to Acquire Diversified Industrial Assets

New York, NY – February 24, 2022: SMBC, a member of SMBC Group, announced today that the firm provided an acquisition loan to a joint venture between Brookfield Real Estate Secondaries (Brookfield) and Longpoint Realty Partners (Longpoint).

The $460 million loan is structured with a three-year initial term and two one-year extension options and includes a $15.4MM future funding facility to fund future accretive leasing costs and planned capital expenditures.

The loan was used to help Brookfield acquire a majority interest in thirty-one high-quality, well-diversified industrial assets totaling 3.8MM square feet across seven top industrial markets from Longpoint. The assets are strategically positioned near major cities in the Northeast, Atlantic, and Sunbelt regions, with a majority of the markets ranking in the top ten largest metropolitan statistical areas (MSAs) in the nation.

“The Portfolio represents a critical mass of well-located, infill logistics assets with close proximity to vital distribution hubs in leading markets,” said Alex Cabria, Director of Originations within the Real Estate Finance Group at SMBC Americas Division. “This was an excellent opportunity for us to provide financing on core industrial assets to Brookfield, one of the top real estate investment firms in the globe.”

About SMBC Group

SMBC Group is a top-tier global financial group. Headquartered in Tokyo and with a 400-year history, SMBC Group offers a diverse range of financial services, including banking, leasing, securities, credit cards, and consumer finance. The Group has more than 140 offices and 86,000 employees worldwide in nearly 40 countries. Sumitomo Mitsui Financial Group, Inc. (SMFG) is the holding company of SMBC Group, which is one of the three largest banking groups in Japan. SMFG’s shares trade on the Tokyo, Nagoya, and New York (NYSE: SMFG) stock exchanges. As of September 30, 2021, its total assets were $2.16 trillion.

In the Americas, SMBC Group has a presence in the U.S., Canada, Mexico, Brazil, Chile, Colombia, and Peru. Backed by the capital strength of SMBC Group and the value of its relationships in Asia, the Group offers a range of commercial and investment banking services to its corporate, institutional, and municipal clients. It connects a diverse client base to local markets and the organization’s extensive global network. The Group’s operating companies in the Americas include Sumitomo Mitsui Banking Corp. (SMBC), SMBC Nikko Securities America, Inc., SMBC Capital Markets, Inc., SMBC Rail Services LLC, Manufacturers Bank, JRI America, Inc., SMBC Leasing and Finance, Inc., Banco Sumitomo Mitsui Brasileiro S.A., and Sumitomo Mitsui Finance and Leasing Co., Ltd.

Media Relations Contact:
Mina Takahashi
+1 212-756-5593
mina_takahashi@smbcgroup.com