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RIVERSIDE, CALIF. — Allianz Real Estate of America has provided $55 million to refinance a 507,000-square-foot cold storage facility in Riverside. The property is located at 1001 Columbia Ave.
The asset was developed in 2011 on a 25.3-acre site within Hunter Park. It is fully leased to an investment-grade credit tenant.
The 10-year, fixed-rate loan will refinance the property’s existing loan. HFF’s Kevin MacKenzie and AJ Manas represented the borrower in this transaction.