Industrial Portfolio Secured $718 Million in Financing
The funding supports 52 Phoenix-area properties, ensuring ongoing operations for tenants occupying 5.2 million square feet.
Updated on Oct. 14, 2026 in Commercial
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Equus Capital Partners has finalized a $718.2 million financing package for the Project Pegasus industrial portfolio located throughout the Phoenix area. This five-year floating-rate deal supports 52 properties that are currently 92% leased.
Why it matters
The massive injection of capital provides stability for the 1,260 individual suites within the portfolio, helping to maintain essential industrial infrastructure across key local submarkets.
The $718.2 million financing consists of a $527.1 million SASB execution and a $191.1 million balance sheet component. The portfolio spans 52 properties with an average building vintage of 1992.
The players
JLL
A global real estate services firm that facilitates commercial property financing and investment deals.
Equus Capital Partners
A private real estate investment manager that owns and operates industrial and office properties.
Morgan Stanley
An investment bank that provides commercial real estate lending and capital market services.
Bank of America
A major financial institution that provides commercial banking and corporate credit facilities.
The details
JLL arranged the financing, which is structured as a five-year floating-rate loan provided by Morgan Stanley and Bank of America. This capital supports the long-term operations of 5.2 million square feet of industrial space, which features a variety of suites and near-airport accessibility. The portfolio assets reflect a mix of development vintages, with the newest properties dating back to 2019.
Timeline
October 14, 2026: JLL announced the completion of the financing arrangement.
2019: The newest industrial developments in the portfolio were constructed.
Money Landscape
This transaction highlights the ongoing demand for established industrial assets in Phoenix with an average building vintage of 1992. The financing indicates continued institutional appetite for portfolios that balance older industrial footprints with high occupancy levels.
This deal secures the long-term management and maintenance of over 1,200 industrial suites, offering stability for local businesses operating within these facilities. Tenants should monitor lease terms as new management priorities may evolve during the five-year loan period.
The takeaway
Large-scale industrial financing underscores the ongoing stability of the Phoenix logistics market. Business owners in industrial properties should verify if their landlord has undergone recent financing changes that could impact property management services.
Further reading
For more on how shifts in debt markets affect business space, visit Commercial.
Source note: This article includes information reported by AZ Big Media.
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