SkyREM Lands $102 Million CIBC Refinancing for East Coast Industrial Holdings

SkyREM Lands $102 Million CIBC Refinancing for East Coast Industrial Holdings

Real estate investment firm SkyREM has closed a $101.8 million refinancing package covering a four-property industrial portfolio totaling 1.9 million square feet along the East Coast, according to a report by Commercial Observer.

The nonrecourse loan was originated by CIBC and features an initial three-year term, with two one-year extension options available to the borrower. A team from JLL Capital Markets — Peter Rotchford, Steven Binswanger and Lucas Borges — represented SkyREM in arranging the deal.

Fully Leased Portfolio

The four assets are entirely leased to six tenants, per JLL, and support a mix of warehousing, manufacturing and e-commerce operations. Specific property locations were not disclosed. SkyREM Chief Executive Alexander Dembitzer said the financing underscores the portfolio’s quality and provides added flexibility to pursue additional industrial acquisitions.

Philadelphia- and New York-based SkyREM owns and operates 30 properties nationwide, concentrated in the industrial sector. Its tenant roster includes major names such as Lockheed Martin, FedEx, Amazon and Shein.

Recent Activity

The transaction marks the latest in a string of capital markets moves for the firm. Earlier in 2025, SkyREM completed a $170 million refinancing of a 10-building, 2.5 million-square-foot portfolio, with that loan supplied by affiliates of Apollo and also brokered by JLL. More recently, in January, the company acquired a 325,334-square-foot manufacturing facility in Casa Grande, Ariz.

The deal comes amid continued lender appetite for well-leased industrial assets, a property type that has remained among the more active segments of commercial real estate finance. JLL, whose capital markets arm advised on the transaction, trades on public markets as Jones Lang LaSalle Incorporated — the stock was recently quoted at $340.51, down 0.19% from the prior close of $341.15, with a market capitalization of roughly $15.8 billion.

SkyREM is a private firm and did not disclose the rate or leverage terms of the CIBC loan.

What to watch

• Whether SkyREM deploys the refinancing flexibility toward additional industrial acquisitions, following its January Casa Grande purchase.
• Future refinancings across the remainder of its 30-property portfolio, where JLL has now arranged back-to-back deals.
• Broader industrial lending volume and rate trends, which shape terms for nonrecourse loans of this size.

Source: original release