JLL Arranges $37M Acquisition Financing for Adler Real Estate Partners' Beltsville Industrial Portfolio

JLL Capital Markets has arranged $37 million in acquisition financing for Adler Real Estate Partners' purchase of Ammendale Technology Park, a 275,270-square-foot shallow bay light industrial portfolio in Beltsville, Maryland, the firm announced Oct. 22, 2026.

The property comprises six buildings at 11800, 11850 and 11900 Baltimore Ave. and 12104, 12200 and 12240 Indian Creek Court. JLL worked on behalf of the borrower, Adler Real Estate Partners, a Miami-based asset management firm that specializes in multi-tenant light industrial properties, to secure the bank financing. The loan equates to roughly $134 per square foot of building area.

JLL Capital Markets Team Leads Beltsville Industrial Financing

The JLL Capital Markets team was led by Senior Managing Director Melissa Rose and Senior Director Michael DiCosimo, along with Director Gus Caiola and Analyst Magnus Kron.

JLL describes its Capital Markets group as a full-service provider of capital solutions for real estate investors and occupiers, with more than 3,000 specialists worldwide and offices in nearly 50 countries.

Ammendale Technology Park: Property Details

Built in 1985 and 1986, Ammendale Technology Park sits on a 31-acre site and is 96% leased to 24 tenants across the technology, distribution, light manufacturing and service sectors. Suites range from 3,500 to 36,000 square feet, and the site includes 675 parking spaces.

Five of the six buildings have 20-foot clear heights. Loading is predominantly dock-high, with 42 dock-high positions and 10 grade-level doors. The buildings also feature truck courts of 65 to 135 feet, building depths of 100 to 190 feet and flexible column spacing.

Public marketing materials for individual buildings show some variation in specifications. A 9,720-square-foot flex space at 11850 Baltimore Ave. has 21-foot clear height and two docks, while a 31,903-square-foot standalone building at 12200 Indian Creek Court has 19-foot clear height, five docks and one drive-in door.

Location and Access in the Washington DC Metro Area

The portfolio is located along the U.S. Route 1 corridor in northern Prince George's County, with access to Interstate 95 and Interstate 495, both within five minutes. Tenants are within 34 minutes of downtown Washington DC, 36 minutes of downtown Baltimore and 40 minutes of Ronald Reagan Washington National Airport. The location provides access to a consumer base of 9.7 million people within 90 minutes, and the immediate submarket is near national retailers and neighboring industrial tenants.

Beltsville Industrial Market Context

The Beltsville submarket contains 9.9 million square feet of industrial space. One market source reports a 7.2% vacancy rate, asking rents of $16.42 per square foot, 123,000 square feet under construction and a 7.3% indicative cap rate. A separate Q2 2026 report placed Beltsville/College Park vacancy at 6.4%, with 269,964 square feet under construction.

Broader Suburban Maryland conditions were softer. Overall industrial vacancy reached 11.3% in the third quarter of 2026, up 90 basis points year over year, while average asking rents declined $0.13 per square foot year over year to $15.34 per square foot. The market nevertheless recorded 76,500 square feet of quarterly absorption in Prince George's County, and two Beltsville warehouse buildings totaling 270,000 square feet remained under construction at 6500 and 6600 Muirkirk Road.

JLL noted that the Washington DC metro industrial market benefits from federal government presence, affluent demographics and constrained land supply that limits new construction in established submarkets. The firm said shallow bay industrial properties below 100,000 square feet have shown sustained tenant demand as data center development and alternative uses reduce traditional industrial inventory in infill locations. One 2026 outlook estimated the historical rent discount in Prince George's County relative to Northern Virginia at 20% to 30%.

About Adler Real Estate Partners

Adler Real Estate Partners is a vertically integrated real estate investor and operator based in Miami. The firm focuses on acquiring multi-tenant light industrial properties in growth markets across the United States. Since entering the fund management business in 2010, the current team has deployed and managed five funds and completed more than 50 acquisitions totaling 15 million square feet and over $2.0 billion in market value.

Sources

• JLL Newsroom: JLL arranges $37M financing for acquisition of Beltsville Light industrial portfolio (Oct. 22, 2026)