At a glance
- The 52 light industrial buildings hold roughly 1,260 suites across Airport, Chandler, Deer Valley, Mesa, Tempe, West Valley North and West Valley South.
- At closing the portfolio was 92 percent leased.
- IREI reported the financing on October 15, 2026; Private Real Estate Daily covered it when it closed on October 14, 2026.
JLL Capital Markets arranged $718.2 million in financing for affiliates of Equus Capital Partners covering Project Pegasus Industrial Portfolio, a 52-property, 5.2 million-square-foot shallow-bay industrial portfolio across Phoenix infill submarkets.
The five-year floating-rate package includes a $527.1 million single-asset, single-borrower execution with Morgan Stanley as lead left and Bank of America as right lead, plus a $191.1 million balance-sheet loan through Bank of America.
The 52 light industrial buildings hold roughly 1,260 suites across Airport, Chandler, Deer Valley, Mesa, Tempe, West Valley North and West Valley South. Individual buildings range from about 29,000 square feet to nearly 259,000 square feet, with an average approaching 100,000 square feet.
At closing the portfolio was 92 percent leased. Tenants span manufacturing, logistics, distribution, construction, machinery, professional services, consumer products and technology, and no single tenant represented more than a small portion of rental revenue, according to IREI.
IREI reported the financing on October 15, 2026; Private Real Estate Daily covered it when it closed on October 14, 2026.
Reported by the Real estate debt desk. Published . Corrections