CINCINNATI—Terra Capital Partners, LLC, a New York City-based firm has closed a four-year $7.2 million preferred equity investment secured by a 697,500-square-foot bulk distribution warehouse in West Chester, Ohio, a town about fifteen miles north of the Cincinnati Central Business District.
The building, finished just before the economic crash hit the region, is one of the most modern in the Cincinnati market. It sits on 37 acres at 8778-8910 LeSaint Dr., has 86-cross dock loading docks, 32-foot clear height doors, 60-foot-wide column spacing and 130-foot truck turnaround courts.
"Our preferred equity investment helped the borrower recapitalize the property and provided monies for the lease up of vacant space,” says Dan Cooperman, managing director of Terra Capital Partners. “The financial strength and logistics expertise of the borrower, the size and highly-functional design of the facility plus the existing international credit tenancy and strategic location near major highways, railroads and a regional airline makes this a very attractive investment for Terra,” adds Cooperman.
The Los Angeles office of Holiday Fenoglio Fowler represented the borrower.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
