ONTARIO, CA-HFF has arranged nearly $27 million in debt and joint venture equity for a 406,714-square-foot industrial facility here.
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.
The property, 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.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
