Bandon Capital Advisors recently arranged an $11.5-million loan to refinance a 3.11-acre covered land industrial site with space for industrial outdoor storage (IOS) in Costa Mesa and secured $5 million in financing for two single-tenant industrial assets in Burbank and Pico Rivera on behalf of BLT Enterprises. According to Bryan Kenny, co-founder and president at Bandon Capital Advisors, IOS fills a critical need for logistics companies, especially in markets with little or no remaining vacant land; this asset class has been garnering the attention of institutional capital over the past few years. The site includes a 12,588 square foot truck and automotive maintenance facility as well as an office building that is currently leased by local Hyundai dealerships who plan to use it as reconditioning repair location along with storage purposes. To finance this transaction Bandon was able to secure long term fixed rate loan from life company lender which included interest only periods followed by 30 year amortization schedule .
“Van Nuys Industrial Lease Secured by Aviation Manufacturer”
Rancho Realty Group Corporation successfully facilitated the signing of a 31,000-square-foot industrial lease at 7850 Haskell Ave. in Van Nuys.
Steve Griffin
November 22, 2024
