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Westcore Lands $16M Acquisition Loan

SAN DIEGO-MONY Realty Capital has provided the fixed-rate financing, which Westcore Industrial Properties LLC used to purchase the132,685-sf REMEC Corporate Campus. The Kearny Mesa asset cost a total of $20.5 million.

By Erin Cassin | Updated on June 11, 2003

SAN DIEGO-Westcore Industrial Properties LLC has secured a $16-million acquisition loan, which the firm used to fund the majority of its recent purchase of REMEC Corporate Campus in Kearny Mesa.

Del Mar-based REMEC sold the 132,684-sf business campus to Westcore for a total of $20.5 million. The transaction allowed the manufacturer of high frequency subsystems to retire its existing synthetic lease against the property. In conjunction with the sale, REMEC and WS Roscoe entered into separate, 14-year leases for the entire complex that went into effect on the closing of the deal. REMEC’s Defense and Space group occupies most of the campus, which is comprised of four facilities. They are located at 9404 Chesapeake Dr. and 5755, 5785 and 5788 Roscoe Court.

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