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$9.3M Finances Warehouse Project

LYNWOOD, CA-The owner secures the loan from Prudential Insurance Co. via Holliday Fenoglio Fowler for a 323,374-sf industrial building on Imperial Highway.

By Bob Howard | Updated on August 21, 2002

LYNWOOD, CA-A pension fund owner secured $9.3 million in financing from Prudential Life Insurance Company of America for the Century Freeway Distribution Center, a 323,374-sf, single-story industrial building at 2700 E. Imperial Hwy. in Lynwood.

The funding is a 10-year, fixed rate loan, according to Joseph N. Hevey of Holliday Fenoglio Fowler, which arranged the financing on behalf of the pension fund client. The client, who acquired the property from developer Sares-Regis, was advised by LaSalle Investment Management. Hevey says it is a permanent, interest only loan at a sub-7% rate.

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