victoria industrial warehouse

Warehouse building located in Rancho Dominguez, California

Property Description: 101,724 square foot warehouse building located in Rancho Dominguez, California. The property is a Class B 1970s industrial building of average quality located in an infill market in the South Bay in Los Angeles.

Investment Profile: The Sponsor was buying the property from an owner-occupier that was leaving the project, so that at the closing of the financing the property was 100% vacant. The Sponsor’s business plan is to make necessary capital improvements to the project and lease it up and then sell it upon stabilization.

Loan Amount: $5,520,000

Loan Type: Acquisition and reposition first mortgage bridge loan

Deal Highlights: The Sponsor required acquisition financing on a 100% vacant building as well as funds to carry and lease-up the property. Mesa West Capital provided a non-recourse loan on the vacant project and the loan was structured to include funds to acquire the property, provide an interest and operating reserve and pay for capital improvements, tenant improvement and leasing commissions.

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