$24.5M financing secured for an Amazon-leased industrial property in Tampa, Florida

MIAMI, Dec. 06, 2024 – JLL Capital Markets announced today that it secured $24.5 million in financing for a 112,000-square-foot, Amazon-leased, last-mile distribution facility.

JLL worked on behalf of the borrower, AGS TRIP Corp, to secure the fixed rate loan through Reinsurance Group of America, Incorporated (RGA).

Situated in the Southeast Hillsborough submarket of the Tampa MSA, the property benefits from its position in one of Florida's fastest-growing regions. The site offers excellent accessibility to major transportation routes, including state road 41 and I-75. Additionally, its proximity to the Port of Tampa Bay and Tampa International Airport (TPA) provides critical logistical advantages for efficient regional distribution.

The JLL Debt Advisory team was spearheaded by Managing Director Brian Gaswirth, Director Jimmy Calvo and Analyst Val McWilliams.

"The industrial fundamentals within the greater Tampa MSA have created extensive excitement from both investors and lenders," said Gaswirth. "The combination of borrower, an investment-grade Amazon lease, significant duration and Tampa's booming population growth made this a highly competitive process.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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AGS TRIP Corp and its parent company AGS Properties are backed by a Brazilian family that focuses solely on Florida real estate acquisitions as a diversification away from their primary business in the mining industry. The firm has a 30-year history of acquiring and operating high quality real estate assets throughout South Florida and Latin America. AGS has strategically acquired high quality portfolio that consists of over 620,000 SF and employs a low leverage strategy backed by two sponsors.

Reinsurance Group of America, Incorporated (NYSE: RGA) is a global industry leader specializing in life and health reinsurance and financial solutions that help clients effectively manage risk and optimize capital. Founded in 1973, RGA is today one of the world’s largest and most respected reinsurers and remains guided by a powerful purpose: to make financial protection accessible to all. As a global capabilities and solutions leader, RGA empowers partners through bold innovation, relentless execution, and dedicated client focus — all directed toward creating sustainable long-term value. RGA has approximately $4.0 trillion of life reinsurance in force and assets of $120.3 billion as of September 30, 2024. To learn more about RGA and its businesses, please visit rgare.com or follow RGA on LinkedIn and Facebook. Investors can learn more at investor.rgare.com.