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| 5491 East Francis, Ontario, CA |
LOS ANGELES, CA – HFF announced today that it has arranged
nearly $27 million in debt and joint venture equity for 5491 East Francis,
a 406,714-square-foot industrial facility in Ontario, California.
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| Paul Brindley |
HFF
worked on behalf of the sponsor, Cohen Asset Management, to arrange joint
venture equity through a domestic life insurance company, and to secure $13.75
million of permanent fixed-rate debt through a national life insurance
company. Loan and equity proceeds were
used to acquire the property via a sale leaseback.
5491
East Francis is situated in an “A” location of the Inland Empire West in the
City of Ontario just minutes from the intersection of the Interstate 10 and
Interstate 15 freeways. The property is
fully leased to a single-tenant.
 |
| Ryan Martin |
The
HFF team representing the borrower was led by senior managing director Paul
Brindley and senior real estate analyst Jeff Sause.
“We
have had a long standing relationship with both Cohen and their joint venture
partner and were confident that a strong relationship would be formed between
the two,” said Brindley.
“Our efforts to secure the joint venture equity and debt for
this asset are part of our growing emphasis on industrial product both in
Southern California and nationally.”
 |
| Anthony Brent |
HFF recently added
the team of Brett Tremaine, Ryan Martin and Anthony Brent from
BlackRidge Real Estate Group to the Los Angeles and Orange County offices to
focus on industrial capital markets transactions primarily in the western
United States.
Cohen
Asset Management, Inc. is a private commercial and industrial real estate
investment firm. Established in 1992
and strategically headquartered in Southern California with a regional office
in Northern New Jersey, Cohen Asset Management, Inc. is a proven, national real
estate owner and operator with a primary focus on the industrial real estate
sector.
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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