CIT Arranges $50M Acquisition Financing for Six-Property Industrial Portfolio in San Diego
SAN DIEGO — CIT Group’s Real Estate Finance division has arranged $50 million in financing for the acquisition of a six-property industrial portfolio in San Diego’s Otay Mesa submarket.
BKM Capital Partners purchased the assets, which total 14 buildings and 703,215 square feet, from Stockbridge Capital Group for an undisclosed price. Cushman & Wakefield represented the seller in the transaction.
The light industrial multi-tenant properties offer access to major transportation routes and the border crossing to Mexico. At the time of sale, the portfolio was 97 percent occupied by a diverse range of 44 tenants.
The properties are:
- Border Point Business Park at 6754, 6744 and 6794 Calle De Linea
- San Diego International Center at 883 Siempre Viva Road
- Faraday Industrial Park at 2325, 2345, 2365, 2375 Michael Faraday Drive and 2350 Marconi Place
- Otay Business Center at 6987 and 6995 Calle De Linea
- Frontera Business Center at 2695 Customhouse Court
- Otay Crossing Business Park at 2340 Enrico Fermi Drive and 10025 Siempre Viva Road