September 4, 2020
Los Angeles-based Thorofare Capital funded a $23.7 million acquisition loan for Pellisier Logistics Center, a 232,588-square-foot, fully leased industrial warehouse and distribution property in Colton, CA. JLL Capital Markets’ Marc Schillinger, Keith Rosso and Eric Boucher arranged the financing on behalf of the borrower group, an unnamed privately-owned apparel manufacturer.
Thorofare’s Felix Gutnikov says, “This financing transaction exemplifies our team’s ability to seek out high quality loan origination opportunities, which fit perfectly within our mandate, and execute swiftly with high conviction.”
Loan proceeds were used to purchase the asset at 1901 W. Center St. immediately upon the building’s completion by its developer, Hillwood Investment Properties. The property was 100%-leased simultaneously with closing for an initial lease term of 10 years, excluding two five-year extensions options.
Situated on 12.51 acres, the facility is a new-construction, concrete tilt-up building with 36- to 42-foot clear heights, 24 dock high doors, 168 trailer parking spaces and 219 auto parking spaces.
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Tags: Acquisition, Development, Financing, Industrial
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