CIP Real Estate has secured a $58.6 million loan to recapitalize a three-property industrial and office portfolio totaling 609,898 square feet in Southern California's Inland Empire. The recapitalization included the procurement of up to $300M of equity growth capital creating nearly $900M of buying power over the next three to four years.

The portfolio comprises the 17-building College Business Park in Upland, California; the 12-building Milliken Business Center in Ontario, California; and the five-building Summit Business Center in Riverside, California. Overall, the portfolio is 95% leased to over 300 separate tenants.

The capital raise was led by JLL managing director Jeff Hawkins and EVP Derek Landry.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.