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RIVERSIDE, CALIF. — Oxford Properties has completed the disposition of a light industrial portfolio in Riverside to Sierra Ridge Capital, with Los Angeles-based Pacific Properties Group providing the equity, for an undisclosed price. Patrick Nally, Ryan Spradling and Shae Vomund of JLL Capital Markets represented the seller in the transaction.
Totaling 238,473 square feet, the portfolio includes:
- A 132,800-square-foot, fully leased multi-tenant facility at 12000 Magnolia Ave. that was built in 2018 and features a clear height of 30 feet
- The 105,673-square-foot Hunter Business Park at 1110-1130 Palmyrita Ave., which features 14 suites built in 1990 with a clear height of 18 feet
Jeff Sause, Danny Ryan and Jenny Barger of JLL Capital Markets arranged a $25 million acquisition loan with a correspondent life insurance company for the buyer.