JLL arranges $84 million in post-close acquisition financing for Azusa Industrial Center in Azusa, CA

FINANCED: Azusa Industrial Center,
Azusa, CA, has  received $84 million

                   in post-close acquisition financing  

 

LOS ANGELES, CA  –  JLL Capital Markets   a three-building industrial park totaling 432,500 square feet located in Azusa, California has arranged $84 million in post-close acquisition financing for Azusa Industrial Center.

 

Jace Bertges

JLL worked on behalf of the borrower, IDS Real Estate Group, to secure the four-year, floating-rate loan through PGIM Real Estate’s debt fund focused on transitional bridge lending.

 The PGIM Real Estate team was led by Vice President Jace Bertges.

The JLL Capital Markets team was led by Managing Director Matt Stewart, Associate Ace Sudah and Analyst Daniel Skerrett.

 

“

Matt Stewart

Despite continued market volatility, we are finding there is ample liquidity for well-located infill industrial properties with strong fundamentals and institutional sponsorship,” said Stewart.

 Built between 1986 and 1987, this 432,500 square foot, three-building industrial property is 100% leased to four tenants and features institutional-grade industrial specs. 

Spanning 23.6 acres, the Property features a total of 73 dock doors, seven grade-level doors, truck courts ranging from 130 to 160 feet, and clear heights ranging from 24 to 30 feet.

 

Ace Sudah

Azusa Industrial Center offers a ground-zero industria logistics location with close access to Southern California’s robust freeway network, located minutes from the I-210 and I-605 Freeways. 

The Property is also located near other key nodes of transit, such as Ontario International Airport, the Los Angeles & Long Beach Ports, and Los Angeles International Airport.

 

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.

Daniel Skerrett

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

 

For more news, videos and research resources, please visit JLL’s newsroom.

 

Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.

 

Contact: 

Alli Semans,

 Public Relations, Associate

Phone: +1 330 329 6750

Email: Alli.Semans@jll.com

 jll.com.

pgimrealestate.com.