PGIM Real Estate, a leading real estate investment firm, has provided $51 million in floating rate acquisition financing for BKM Capital Partners. This funding will support the acquisition, renovation and leasing of Canyon Industrial Center located in San Diego’s Kearny Mesa submarket. The property offers 198,728 square feet of shallow-bay industrial space across 13 buildings and is conveniently situated near major transportation hubs such as I-15/SR-52/SR-163.
According to Trent Brown, executive director at PGIM Real Estate who led the financing on behalf of the firm’s core plus debt strategy: “San Diego’s industrial market continues to experience strong investment and leasing activity.” He further adds that Canyon Industrial Center is well-positioned to meet this demand with its flexible warehouse and office space options along with convenient loading facilities.
The multi-tenant property also boasts ample parking spaces making it an ideal choice for businesses looking for a strategic location. Through their core-plus lending platform, PGIM Real Estate is proud to support BKM Capital Partners’ acquisition of this dynamic asset which will contribute towards the growth of San Diego’s industrial market.
