OFFICE, INDUSTRIAL PORTFOLIO RECEIVES $38M IN FINANCING

by admin

SACRAMENTO, CALIF. – A seven-property industrial and flex office portfolio has received $38 million in financing. The portfolio includes a total of more than 1 million square feet throughout California, Washington, Colorado and Missouri.

The portfolio includes: Sunrise Business Center in Rancho Cordova, as well as Bradshaw Business Park and Fruitridge Industrial Center in Sacramento, Calif.; Andover Executive Park in Tukwila and West Valley Distribution Center in Kent, Wash.; and Inverness Business Park in Englewood, Colo. The portfolio is 52 percent leased.

Financing was arranged by HFF’s Lloyd Minten, Paul Brindley and Tom Wilson. They worked on behalf of a joint venture between a subsidiary of Oaktree Capital Management and ScanlanKemperBard Companies. The adjustable-rate loan was placed with Latitude Management Real Estate Investors. The loan’s proceeds were used to acquire the portfolio.

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