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PRP, a Washington, D.C.–based investment management firm focused on credit net-lease investments, has closed on a $291 million single-asset, single-borrower CMBS loan backed by a five-property logistics portfolio.

The loan, underwritten by J.P. Morgan and arranged by Eastdil Secured, refinances a five-property logistics portfolio that includes more than 4.52 million square feet of class A logistics properties. The five properties are located within strong distribution markets, including Birmingham, Ala.; Greenville-Spartanburg, S.C.; Houston; and St. Louis, Ill.