Thursday, December 12, 2013

HFF arranges $73.8 million in financing for the development of Pacific Business Center in Los Angeles County


Pacific Business Center, 5600 Rickenbacker adjacent to 710 Freeway
 Bell, CA (Los Angeles County)

Don Curtis

IRVINE, CA – HFF announced today that it has arranged $73.8 million in financing for Pacific Business Center, a multi-building industrial development in Bell (Los Angeles County), California.

               HFF worked on behalf of the borrower, Pacific Industrial, to structure and secure the non-recourse participating loan through a global investment firm.  Loan proceeds will be used to acquire and develop the project.

               Plans call for the construction of three Class A industrial warehouse buildings totaling more than 400,000 square feet on a 22.8 acre portion of the site. 

The remaining 13.7 acres are currently leased to BNSF.  The site is located at 5600 Rickenbacker, adjacent to the 710 Freeway, two miles south of the 5 Freeway interchange, and about six miles southeast of downtown Los Angeles.

               The HFF team representing the borrower was led by associate director Brian Torp and senior managing director Don Curtis. 


Brian Torp

               “The majority of the inventory in the central Los Angeles market is functionally obsolete.  Pacific Business Center will be the best-in-class industrial project in this submarket, and the structure of the non-recourse financing will allow the sponsor to own the asset long term,” said Torp.

               Pacific Industrial is an industrial real estate development and acquisition platform exclusively focused on industrial real estate in Southern California. 

The principals have been involved with the development and/or acquisition of more than 15 million square feet of industrial product and are currently developing and entitling over 2.0 million square feet.








For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

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