MESA WEST CAPITAL PROVIDES $25.6 MILLION LOAN FOR GRACE PLACE INDUSTRIAL
COMMERCE, CALIF. — Mesa West Capital has provided The Magellan Group with a $25.6 million first mortgage loan for the recapitalization of Grace Place Industrial, a 500,795-square-foot industrial complex in Commerce. The fully leased facility features 30-foot clear heights and ample turning radius. The Magellan Group also received $5.75 million of subordinate mezzanine debt from Penwood Select Industrial Partners II LP, for a total debt of $31.35 million. Mesa West Capital and Penwood closed the transaction in 30 days. Brian Halpern and Ben Wagner of CB Richard Ellis Capital Markets arranged the financing.