Industrial Logistics Shares Climb After Debt Refinancing

Dow Jones

Jun 16, 2025

By Sarina Isaacs

Shares of Industrial Logistics Properties Trust climbed after the real estate investment trust said it would save on a significant chunk of interest expenses by refinancing its debt.

The stock was recently up 23% at $4.21, bringing shares well into positive territory for the year.

The Newton, Mass., REIT said it priced $1.16 billion of five-year, interest-only fixed-rate mortgage financing that, together with $75 million of cash on hand, would be used to repay $1.235 billion of floating-rate mortgage debt.

Finance Chief Tiffany Sy said the refinancing will generate annual cash savings of about $8.5 million, or 13 cents per share, by trimming Industrial Logistics' debt levels and locking in a lower fixed-interest rate, as well as eliminating the need to purchase future interest-rate caps on this tranche of debt.

Industrial Logistics, which owns and leases distribution and logistics properties, said the new financing is secured by a portfolio of 101 industrial properties located on the U.S. mainland and Hawaii.

The financing is expected to close on or about June 26.

Write to Sarina Isaacs at sarina.isaacs@wsj.com

(END) Dow Jones Newswires

June 16, 2025 11:46 ET (15:46 GMT)

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