September 15, 2017
A $55-million refinancing loan has been arranged for a 507,000-square-foot, state-of-the-art, LEED-certified cold storage facility at 1001 Columbia Avenue in Riverside, CA. A team from HFF worked on behalf of an undisclosed advisor, to secure the 10-year, fixed-rate loan with Allianz Real Estate of America. Loan proceeds are being used to refinance an existing loan.
Originally developed in 2011, the building is 100% leased to an investment grade credit tenant. The property is situated on 25.35 acres within Hunter Park, a prominent industrial district strategically located within the Inland Empire East submarket, one of the fastest growing markets in the country.
The HFF debt placement team representing the borrower consisted of Kevin MacKenzie and AJ Manas.
For comments, questions or concerns, please contact Dennis Kaiser