CBRE Arranges $15M in Financing for Westcore’s Purchase of Industrial Facility in Bay Area
OAKLAND, CALIF. — CBRE Capital Markets’ Debt & Structured Finance team in San Diego has arranged a $15 million loan for the acquisition of a warehousing and cold storage facility in Oakland.
Mark McGovern and Morgon Fraser of CBRE’s San Diego office arranged the five-year loan on behalf of the borrower, San Diego-based industrial real estate investment firm Westcore.
Constructed in 2012, the 155,000-square-foot building is located at 8380 Pardee Drive. The property features 8,000 square feet of cold storage space, 30-foot clear heights and an ESFR fire suppression system. Horizon Beverage Co., a beer and malt liquor distribution company, fully occupies the building.