Faropoint Secures $1.6B in Credit Facilities

With commitment from fourteen financial institutions, led by KeyBank, J.P. Morgan, and Citizens Bank, real estate investment manager is primed to seize opportunities amidst new market conditions

HOBOKEN, N.J.--(BUSINESS WIRE)--Faropoint, a leading real estate investment management firm focused on last-mile properties in high population growth markets, today announced it has secured $1.57 billion in funding over the past 14 months through several credit facilities. The facilities were led by KeyBank, as Left Lead Arranger and Administrative Agent, alongside J.P. Morgan and Citizens Bank, as Joint Lead Arrangers on certain facilities, and a syndicate of 11 participant banks.

“KeyBank is proud to continue our long-standing leadership role with Faropoint,” said Joshua Mayers, SVP and Senior Banker in KeyBank’s Institutional Real Estate Group. “The company’s purchase momentum and use of technology to vet and manage their deal pipeline continues to boost their credibility in the competitive industrial space. We are honored to partner with a large group of high-quality syndicated bank partners to deliver creative financing solutions solving Faropoint’s financing needs.”

Faropoint has worked with KeyBank since 2018, and this will mark its fifth credit facility secured through the financial institution. The funding makes Faropoint well-positioned and primed to act on and take advantage of investment opportunities that will arise as a result of current macroeconomic conditions.

“These debt commitments position us to move quickly when the right opportunity arises, in order to execute on our immediate and long-term growth objectives,” said Idan Tzur, Chief Financial Officer at Faropoint. “The expanded size of these facilities and our ability to immediately draw down funds to facilitate deals allows Faropoint to pursue opportunities more efficiently and with greater transactional certainty.”

Thanks to Faropoint’s unique origination platform it has developed through its local presence and network of over 300 local, regional, and national brokers, the company has established itself as the premier buyer of last-mile industrial buildings within its active markets.

“Faropoint’s relationship-centric acquisition strategy combined with our use of proprietary in-house technology to aggregate attractive investment opportunities, has allowed us to close on a high volume of last-mile industrial opportunities over the past few years,” said Adir Levitas, CEO of Faropoint. “In 2021, we acquired 144 warehouses over 82 deals totaling 8.5 million square feet. Through these credit facilities, we have even greater financial flexibility to be early movers with an on-the-ground presence that appeals to sellers in the market because of our ability to close quickly.”

Faropoint currently has offices across nine markets, covering the Northeast, Southeast, the Midwest and Texas, including new offices in Chicago, Baltimore, and South Florida to help facilitate acquisition efforts. For more information on the company, please visit faropoint.com.

About Faropoint
Faropoint is a vertically integrated, data-driven real estate asset manager that leverages data and deep market relationships to achieve superior risk-adjusted returns. Faropoint targets inefficiencies in the marketplace that can be solved with technology and scaled to create meaningful positions using cutting-edge, proprietary, real estate underwriting and portfolio management methods. The company invests in markets with strong demographics and high construction barriers to entry, such as Atlanta, Dallas, Philadelphia, Northern New Jersey, Chicago, Tampa, Miami, Baltimore, and Memphis. Faropoint currently owns and manages more than 20 million square feet of industrial assets.

For acquisition inquiries, contact Vadim Greenberg, Faropoint’s Head of Acquisitions at [e-mail]. For more information, visit faropoint.com.